Aptiv PLC is an Irish- American automotive technology supplier with headquarters in

Dublin Dublin (; , or ) is the capital and largest city of Ireland. On a bay at the mouth of the River Liffey, it is in the province of Leinster, bordered on the south by the Dublin Mountains, a part of the Wicklow Mountains range. At the 2016 ...

. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.

History

The company was established as General Motors' Automotive Components Group in 1994, which changed its name to Delphi Automotive Systems in 1995. Delphi disclosed some irregular accounting practices in 2005. A number of executives, including CFO Alan Dawes, resigned. Delphi Chairman J.T. Battenberg retired. Delphi then filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whet ...

protection to reorganize its struggling U.S. operations. As a result of this action, the

Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against mark ...

granted an application by the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

to delist Delphi's

common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Com ...

and bonds. Plants in

Puerto Real Puerto Real () is a seaport in Andalusia, in the province of Cádiz. , it had a population of 40,667. The town is located on the northern shore of the inner lobe of the Bay of Cádiz, on the site of the ancient Roman settlement of Portus Gad ...

Cádiz Cádiz (, , ) is a city and port in southwestern Spain. It is the capital of the Province of Cádiz, one of eight that make up the autonomous community of Andalusia. Cádiz, one of the oldest continuously inhabited cities in Western Europe, ...

, Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs in February 2007, despite having agreed to continue its manufacturing operations until 2010 and receiving more than from various public administrations in order to guarantee its workers' jobs. The

Regional Government of Andalusia The Regional Government of Andalusia ( es, Junta de Andalucía) is the government of the Autonomous Community of Andalusia. It consists of the Parliament, the President of the Regional Government and the Government Council. The 2011 budget was 31. ...

announced it would begin legal action against the company for breach of local labor laws. Delphi sued its investors for US$2.55 billion in securities to aid Delphi as it sought to come out of bankruptcy in May 2008. U.S. Bankruptcy Judge Robert Drain in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

allowed Delphi to seek payments through a contract against Appaloosa Management LP as well as denying an investors' request for a cap of $250 million for damages. In April 2009 CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling including intellectual property, machinery, and equipment. A group of private investors purchased Delphi's core assets to create a new Delphi Corporation in October 2009. Some of its non-core steering operations sold to

General Motors Company The General Motors Company (GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and was the largest in the world for 77 years b ...

, the successor to the bankrupt

Motors Liquidation Company Motors Liquidation Company (MLC), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only ...

that was formerly General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation. The new Delphi incorporated in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

. Delphi sold its Thermal Business unit to Mahle-Behr GmbH in July 2015. Together, the Mahle-Behr and Delphi Thermal merger represented the second largest supplier of automotive thermal management systems including interior HVAC components, under-hood powertrain cooling and compressors. The company announced improvements to self driving technology under development in December 2015. In the same month Delphi bought HellermannTyton for $1.7 billion. Delphi entered into a partnership agreement with

Carbon Carbon () is a chemical element with the symbol C and atomic number 6. It is nonmetallic and tetravalent—its atom making four electrons available to form covalent chemical bonds. It belongs to group 14 of the periodic table. Carbon makes ...

in June 2016 to allow use of Carbon's Continuous Liquid Interface Production technology and printers. The company then bought the self-driving startup

NuTonomy NuTonomy (stylized as nuTonomy) was an MIT spin-off technology startup company that made software to build self-driving cars and autonomous mobile robots. The company was founded in 2013. In August 2016, it launched its robo-taxi service (pi ...

for $450 million in October 2017. The company divested its powertrain division and aftermarket related businesses (now Borg Warner's Delphi Technologies division) in December 2017 and changed its name to Aptiv PLC. In August 2019, Aptiv and

Hyundai Motor Group The Hyundai Motor Group (HMG; ; ; stylized as HYUΠDAI) is a South Korean ''chaebol'' (loosely similar to a multinational conglomerate but without a central holding company or ownership structure) headquartered in Seoul, South Korea. The HMG ...

announced plans to establish a $4 billion autonomous driving joint venture in which the firms would each have a 50% stake. The companies said the joint venture, which would have its headquarters in Boston, would focus on advancing the “design, development and commercialization of SAE Level 4 and 5 autonomous technologies.” The joint venture closed in March 2020 and was named Motional in August 2020. In January 2021, Aptiv revealed a new platform for automated driving that can be applied on various vehicles and that carmakers can upgrade wirelessly. On 11 January 2022, Aptiv announced that they had acquired

Wind River Systems Wind River Systems, also known as Wind River (trademarked as Wndrvr), is an Alameda, California–based company, subsidiary of Aptiv PLC. The company develops embedded system and cloud software consisting of real-time operating systems software ...

, a company known for its development of real-time operating systems.

Operations

, Aptiv has two diversified business segments: *"Signal and Power Solutions (Formerly Electrical/Electronic Architecture)" provides complete vehicle electrical systems, integrating wiring and cable assemblies, electrical centers and connection systems. *"Advanced Safety and User Experience (Formerly Electronics & Safety)" provides advanced software and sensing systems, computing platforms, advanced safety systems and automated driving, user experience and infotainment, as well as other vehicular electronic controls.

Controversies

On 4 March 2005, Delphi said it had fired its CFO and would restate earnings between 1999, when Delphi spun off from General Motors Corp (GM), and 2004 for improper reporting of rebates, credits, or other payments from suppliers. In June, 2006, Delphi said in a filing that it would restate its 2005 report, which would increase Delphi's reported 2004 net loss by $65 million. In 2013, Delphi became involved in an ongoing lawsuit against GM, because it manufactures ignition switches for the Chevrolet Cobalt, whose original design is alleged to be defective. In 2009, as a result of its bankruptcy agreement, "Delphi surrendered its pension obligations to the

Pension Benefit Guaranty Corporation The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined ...

." A group of about 20,000 salaried employees, principally in

Ohio Ohio () is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Of the List of states and territories of the United States, fifty U.S. states, it is the List of U.S. states and territories by area, 34th-l ...

Michigan Michigan () is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the List of U.S. states and ...

and

Indiana Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th ...

, have been involved in litigation since then seeking restoration of their full pension rights.

Joint ventures

* In August 2019, Aptiv and

announced plans to establish a $4 billion autonomous driving joint venture in which the firms will each have a 50% stake. The companies said the joint venture, which will have headquarters in Boston, would focus on advancing the “design, development and commercialization of SAE Level 4 and 5 autonomous technologies.” The joint venture closed in March 2020 and was named Motional in August 2020. * EnerDel – started as a joint venture of Ener1 and Delphi. In August 2008, Ener1 bought exclusive ownership of EnerDel.

Environmental record

Researchers at the

University of Massachusetts Amherst The University of Massachusetts Amherst (UMass Amherst, UMass) is a public research university in Amherst, Massachusetts and the sole public land-grant university in Commonwealth of Massachusetts. Founded in 1863 as an agricultural college, it ...

allegedly identified Delphi corp. as the 21st-largest corporate producer of

air pollution Air pollution is the contamination of air due to the presence of substances in the atmosphere that are harmful to the health of humans and other living beings, or cause damage to the climate or to materials. There are many different type ...

in the United States in 2002. According to the study, the manufacturer's most toxic emissions included asbestos (542 lb/yr),

chromium Chromium is a chemical element with the symbol Cr and atomic number 24. It is the first element in group 6. It is a steely-grey, lustrous, hard, and brittle transition metal. Chromium metal is valued for its high corrosion resistance and h ...

compounds (1,082 lb/yr),

lead Lead is a chemical element with the Symbol (chemistry), symbol Pb (from the Latin ) and atomic number 82. It is a heavy metals, heavy metal that is density, denser than most common materials. Lead is Mohs scale of mineral hardness#Intermediate ...

compounds (8,466 lb/yr), and sulfuric acid (17,600 lbs/year), while the most massive emissions were

glycol ethers Glycol ethers are a class of chemical compounds consisting of alkyl ethers that are based on glycols such as ethylene glycol or propylene glycol. They are commonly used as solvents in paints and cleaners. They have good solvent properties whi ...

(111,520 lbs/year) and

hydrochloric acid Hydrochloric acid, also known as muriatic acid, is an aqueous solution of hydrogen chloride. It is a colorless solution with a distinctive pungent smell. It is classified as a strong acid. It is a component of the gastric acid in the dig ...

(80,000 lb/yr).

References

External links

*
SEC Litigation Release

''Slate'' article on bankruptcy

DPH Holdings Corporation
archived website on the old Delphi Corporation and its bankruptcy case, 2005–2014 {{authority control, state=expanded Companies listed on the New York Stock Exchange Irish companies established in 1994 Automotive companies established in 1994 Companies based in Dublin (city) Companies that filed for Chapter 11 bankruptcy in 2005 2011 initial public offerings Tax inversions Former General Motors subsidiaries