Delphi Technologies was an independent automotive company from 2017 to 2020, when it was acquired by
BorgWarner
BorgWarner Inc. is an American automotive supplier headquartered in Auburn Hills, Michigan. The company maintains production facilities and technical systems at 93 sites (as of June 6, 2022) in 22 countries worldwide and has around 49,000 emplo ...
Inc.
Delphi Technologies was formed in 2017 when
Delphi Automotive
Aptiv PLC is an Irish-American automotive technology supplier with headquarters in Dublin. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
History
The com ...
, formerly a division of
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...
, renamed itself
Aptiv
Aptiv PLC is an Irish-American automotive technology supplier with headquarters in Dublin. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
History
The com ...
and spun off its
powertrain
A drivetrain (also frequently spelled as drive train or sometimes drive-train) is the group of components that deliver mechanical power from the prime mover to the driven components. In automotive engineering, the drivetrain is the components o ...
and
aftermarket related businesses to a stand-alone company Delphi Technologies PLC. The $4.5 billion company began trading under the former Delphi Automotive symbol DLPH on 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 c ...
.
It was added to the
S&P MidCap 400 Index on 6 December 2017.
The company provided combustion systems, electrification products and software and controls, and operated in the passenger car and commercial vehicle markets, and in vehicle repair through a global aftermarket network.
The company had 20,000 employees including 5,000 engineers. It was headquartered in
London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
, U.K. and operates technical centers, manufacturing sites and customer support services in 24 countries.
Upon the formation of Delphi Technologies, Liam Butterworth, head of the former Delphi Automotive's global powertrain business since 2014, was named CEO. In October 2018, he left the company, and director and former
Tenneco
Tenneco (formerly Tenneco Automotive and originally Tennessee Gas Transmission Company) is an American automotive components original equipment manufacturer and an aftermarket ride control and emissions products manufacturer. It is a Fortune 50 ...
COO Hari Nair was named interim CEO. On 7 January 2019 Richard Dauch was named new CEO.
On 28 January 2020,
BorgWarner
BorgWarner Inc. is an American automotive supplier headquartered in Auburn Hills, Michigan. The company maintains production facilities and technical systems at 93 sites (as of June 6, 2022) in 22 countries worldwide and has around 49,000 emplo ...
Inc. agreed to buy Delphi Technologies in an all stock merger that valued Delphi at about $3.3 billion, Delphi stockholders would own about 16% of the combined company. The deal was completed in October 2020.
References
External links
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Companies based in the City of Westminster
Manufacturing companies based in London
British brands
Auto parts suppliers of the United Kingdom
2020 mergers and acquisitions
Manufacturing companies established in 2017
British companies established in 2017
British subsidiaries of foreign companies
BorgWarner
Corporate spin-offs
Companies formerly listed on the New York Stock Exchange
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