Aptiv

2022-05-16T05:36:43Z

2601:601:E00:97F0:9850:D19C:1CD4:7C80:

{{Short description|Automotive parts company}}
{{Use dmy dates|date=November 2020}}
{{Use British English|date=December 2012}}
{{Infobox company
| name = Aptiv plc
| logo = Aptiv logo.svg
| type = [[Public limited company]]
| former_name = Delphi Automotive plc<br />(2011–2017)
| traded_as = {{Unbulleted list|{{NYSE|APTV}}|[[S&P 500]] component}}
| ISIN = JE00B783TY65
| foundation = {{start date and age|1994}}
| location = [[Dublin]], Ireland<ref>{{cite news |url=https://www.rte.ie/news/business/2018/0502/959770-aptiv-moving-to-dublin/ |title=Car tech firm Aptiv moving global HQ from UK to Dublin |publisher=RTE News |location=IE |date=2 May 2018 |access-date=2 May 2018}}</ref>
| key_people = {{Unbulleted list|[[Rajiv L. Gupta]] ([[chairman]])|Kevin P. Clark ([[President (corporate title)|president]] and [[Chief Executive Officer|CEO]])}}
| industry = [[Automotive industry|Automotive]]
| products = Vehicle electronics, systems, modules, and components
| revenue = {{nowrap| [[United States dollar|US$]]13.066 billion (2020)<ref name=10K>{{cite web |url=https://www.sec.gov/Archives/edgar/data/0001521332/000152133221000009/aptv-20201231.htm#i8174ca128a674d78a499404cfe9cfa57_43 |title=Year-End Financial Statements 2020|publisher=Delphi |access-date=11 January 2022}}</ref>}}
| operating_income = US$2.118 billion (2020)<ref name=10K/>
| net_income = US$1.804 billion (2020)<ref name=10K/>
| assets =
| num_employees = 180,000 (2021)<ref>{{cite web|url=https://jobs.aptiv.com/diversity |title=See How Diversity Equals Innovation |website=Aptiv |access-date=11 October 2021}}</ref>
| website = {{URL|https://www.aptiv.com}}
}}

'''Aptiv PLC''' is an [[Ireland|Irish]] automotive technology supplier<ref>{{Cite web|last=Saigol|first=Lina|title=Aptiv Snaps Up Software Firm Wind River From TPG for $4.3 Billion|url=https://www.barrons.com/articles/aptiv-news-wind-river-stock-price-51641903493|access-date=2022-01-25|website=www.barrons.com|language=en-US}}</ref> with headquarters in [[Dublin, Ireland|Dublin]].<ref>{{Cite web|title=Aptiv to Buy Wind River From TPG for $4.3 Billion in Cash >APTV|url=https://www.marketwatch.com/story/aptiv-to-buy-wind-river-from-tpg-for-4-3-billion-in-cash-aptv-271641900135|access-date=2022-01-25|website=MarketWatch|language=EN-US}}</ref> Aptiv grew out of the now-defunct American company, Delphi Automotive System.<ref>{{Cite web|url=https://www.marklines.com/en/top500/aptiv|title=Aptiv PLC (Formerly Delphi Automotive PLC) - MarkLines Automotive Industry Portal|website=www.marklines.com}}</ref>

==History==

The company was established as the Automotive Components Group in 1994 and changed its name to Delphi Automotive Systems in 1995.<ref>{{cite news|url=https://www.nytimes.com/1995/02/14/business/a-gm-unit-is-renamed.html|title=A G.M. Unit Is Renamed|newspaper=The New York Times|date=14 February 1995|access-date=7 July 2018|last1=News|first1=Bloomberg}}</ref> 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, Title 11, United States Code|Chapter 11 bankruptcy]] protection to reorganize its struggling U.S. operations.<ref>{{cite web |title=Delphi Automotive Chapter 11 Petition |url=https://www.pacermonitor.com/view/GUHJC5I/Delphi_Automotive_Systems_LLC__nysbke-05-44640__0001.0.pdf |website=PacerMonitor|publisher=PacerMonitor |access-date=31 May 2016}}</ref> As a result of this action, the [[Securities and Exchange Commission]] granted an application by the [[New York Stock Exchange]] to [[Delisting (stock)|delist]] Delphi's [[common stock]] and [[Bond (finance)|bonds]].<ref>{{cite web|url=https://www.sec.gov/rules/delist/34-52770.htm |title=SEC delisting order |publisher=Sec.gov |access-date=15 April 2012}}</ref>

Plants in [[Puerto Real]], [[Cádiz (province)|Cádiz]], Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs in February 2007,<ref>{{cite news |url=http://www.businessweek.com/ap/financialnews/D8NFFVOG1.htm |title=Delphi to close Spain factory, cut jobs |work=BusinessWeek |date=23 February 2007}}</ref> despite having agreed to continue its manufacturing operations until 2010 and receiving more than {{euro|25 million}} from various public administrations in order to guarantee its workers' jobs.<ref>{{Cite web|url=https://www.europarl.europa.eu/doceo/document/E-6-2007-1112_EN.html|title=Closure of the Delphi undertaking in Puerto Real, Cádiz|website=www.europarl.europa.eu}}</ref> The [[Regional Government of Andalusia]] announced it would begin legal action against the company for breach of local labor laws.<ref>{{cite web |url=http://actualidad.terra.es/nacional/articulo/zarrias_delphi_andalucia_1414298.htm |title=Zarrías dice que no permitirá que Delphi 'se ría de Andalucía' |publisher=[[Terra (company)|Terra]] |date=23 February 2007}}</ref>

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 (state)|New York]] allowed Delphi to seek payments through a contract against [[Appaloosa Management|Appaloosa Management LP]] as well as denying an investors' request for a cap of $250 million for damages.<ref>{{cite news |url=http://www.chicagotribune.com/business/chi-tue-brf4-delphi-suit-jul29,0,7303546.story |title=Judge allows Delphi to pursue claims against investors |work=Chicago Tribune |date=29 July 2008 |access-date=29 July 2008 }}{{Dead link|date=October 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> In April 2009 CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling including intellectual property, machinery, and equipment.<ref>{{cite web|last1=Lewis|first1=Rob|title=CoolIT puts new money to work|url=http://www.techvibes.com/blog/coolit-puts-new-money-to-work|website=Techvibes|access-date=26 February 2016}}</ref><ref>{{cite web|title=CoolIT Systems Acquires Delphi Liquid Cooling Assets|url=http://www.businesswire.com/news/home/20090427006236/en/CoolIT-Systems-Acquires-Delphi-Liquid-Cooling-Assets|website=Business Wire|access-date=26 February 2016}}</ref>

Delphi's core assets were purchased by a group of private investors to create a new Delphi Corporation in October 2009. Some of its non-core steering operations sold to [[General Motors Company]], the successor to the bankrupt [[Motors Liquidation Company]] that used to be the old General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation.<ref>{{cite web |url=http://www.dphholdingsdocket.com/dph |title=DPH Holdings Corporation |publisher=Kurtzman Carson Consultants LLC |access-date=30 March 2010}}</ref> The new Delphi incorporated in the [[United Kingdom]].<ref>{{Cite news |last1=Stoll|first1=John D. |last2=McKinnon |first2=John D. |title=Delphi Vows to Protect U.K.-Based Status, Fight IRS; IRS Says Automotive Supplier Should File Taxes as a U.S.-Based Company |work=Wall Street Journal (Online) |location=New York, N.Y., United States |date=8 August 2014 |id={{ProQuest|1551908986}} }}</ref>

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.<ref>{{cite press release |url=http://www.mahle.com/mahle/en/news-and-press/press-releases/delphi-thermal-is-now-part-of-the-mahle-group.jsp |title=MAHLE Group {{!}} Delphi Thermal is now part of the MAHLE Group |publisher=MAHLE |location=Germany |date=1 July 2015 |access-date=15 May 2016 |archive-url=https://web.archive.org/web/20160604100540/http://www.mahle.com/mahle/en/news-and-press/press-releases/delphi-thermal-is-now-part-of-the-mahle-group.jsp |archive-date=4 June 2016 |url-status=dead }}</ref> The company announced improvements to self driving technology under development in December 2015.<ref>{{cite news |url=http://www.freep.com/story/money/cars/2015/12/11/delphis-self-driving-audi-sq5-showcase-new-features/77162878/ |title=Delphi's self-driving Audi SQ5 to showcase new features |first=Greg |last=Gardner |work=Detroit Free Press |date=11 December 2015 |access-date=13 December 2015}}</ref> In the same month Delphi bought [[HellermannTyton]] for 1.7 Billion.<ref>{{cite web|url=https://www.nytimes.com/2015/07/31/business/dealbook/delphi-automotive-agrees-to-buy-hellermanntyton-for-1-7-billion.html?partner=rss&_r=1|title=Delphi Automotive Agrees to Buy HellermannTyton for $1.7 Billion|work=The New York Times|date=30 July 2015|access-date=2015-07-31}}</ref>

Delphi entered into a partnership agreement with [[Carbon (company)|Carbon]] in June 2016 to allow use of Carbon's [[Continuous Liquid Interface Production]] technology and printers.<ref>{{Cite news|url=http://www.engineering.com/3DPrinting/3DPrintingArticles/ArticleID/12289/Automotive-Giant-Delphi-Leverages-Carbon-3D-Printing-for-Prototyping-and-More.aspx|title=Automotive Giant Delphi Leverages Carbon 3D Printing for Prototyping and More|last=Molitch-Hou|first=Michael|date=3 June 2016|work=Engineering.com|access-date=9 December 2016}}</ref> The company then bought the self-driving startup [[NuTonomy]] for $450 Million in October 2017.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2017-10-24/delphi-buys-self-driving-car-startup-nutonomy-for-450-million |title=Delphi Buys Self-Driving Startup NuTonomy for $450 Million |publisher=Bloomberg |location=US |date=24 October 2017 |access-date=12 June 2018}}</ref>

The company spun off its powertrain division and aftermarket related businesses (now [[Borg Warner]]'s [[Delphi Technologies]] division) in December 2017 and changed its name to '''Aptiv PLC'''.<ref>{{cite news |url=https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/622759_dlphspinoilfrontier.pdf?force_download=true |title=Delphi Technologies Set to Join S&P MidCap 400 and Frontier Communications to Join S&P SmallCap 600 |publisher=S&P Dow Jones Indices |location=US |date=28 November 2017 |access-date=28 November 2017}}</ref> In August 2019, Aptiv and [[Hyundai Motor Group]] announced plans to establish a $4 billion autonomous driving joint venture<ref name=":0">{{Cite news|last=Frangoul|first=Amour|date=September 24, 2019|title=Hyundai and Aptiv to set up $4 billion autonomous driving joint venture|work=CNBC|url=https://www.cnbc.com/2019/09/24/hyundai-aptiv-to-set-up-4-billion-autonomous-driving-joint-venture.html}}</ref> 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.<ref name="verge-motional">{{Cite web |last=Hawkins |first=Andrew |date=2020-08-11 |title=Hyundai's autonomous vehicle project with Aptiv will now be called Motional |url=https://www.theverge.com/2020/8/11/21362322/hyundai-aptiv-motional-autonomous-vehicle-joint-venture |access-date=2020-12-09 |website=[[The Verge]]}}</ref>

In January 2021, Aptiv revealed a new platform for automated driving that can be applied on various vehicles and that carmakers can upgrade wirelessly. <ref>{{Cite news|last=Carey|first=Nick|date=2021-01-11|title=Aptiv unveils new self-driving platform with wireless upgrades|language=en|work=Reuters|url=https://www.reuters.com/article/us-autos-aptiv-autonomous-idUSKBN29G1F1|access-date=2021-01-11}}</ref>

On 11 January 2022, Aptiv announced that they had acquired [[Wind River Systems]], a company known for its development of real-time operating systems.<ref>{{Cite news|date=2021-01-11|title=Aptiv Announces the Acquisition of Wind River, A Leading Provider of Intelligent Edge Software Solutions, From TPG|language=en|url=https://www.windriver.com/news/press/news-20220111|access-date=2021-01-11}}</ref>

==Operations==
{{As of|2020|12}}, Aptiv has two diversified business segments:<ref name="10K" />

*"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.<ref>{{cite news | url=http://www.foxnews.com/story/2005/03/05/delphi-cfo-resigns-to-restate-results/ | title=Delphi CFO Resigns, to Restate Results | work=Fox News | date=5 March 2005 | access-date=29 October 2013 | archive-url=https://web.archive.org/web/20140725195509/http://www.foxnews.com/story/2005/03/05/delphi-cfo-resigns-to-restate-results/ | archive-date=25 July 2014 | url-status=dead }}</ref> 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.<ref>{{cite news|url=https://www.nytimes.com/2014/03/29/business/a-florida-engineer-unlocked-the-mystery-of-gms-ignition-flaw.html?hp| title=An Engineer's Eureka Moment with a GM Flaw | work=The New York Times | first=Bill| last=Vlasic| date=28 March 2014}}</ref>

In 2009, as a result of its bankruptcy agreement, "Delphi surrendered its pension obligations to the [[Pension Benefit Guaranty Corporation|Pension Benefit Guaranty Corp]]." A group of about 20,000 salaried employees, principally in [[Ohio]], [[Michigan]], [[New York (state)|New York]] and [[Indiana]], have been involved in litigation since then seeking restoration of their full pension rights.<ref>{{Cite news|url=https://www.mydaytondailynews.com/business/delphi-retirees-still-fighting-for-pensions/b3vtxYNQhvAKb0hmDFiPJM/|title=Delphi retirees still fighting for pensions|last=Gnau|first=Thomas|date=11 March 2018|work=Dayton Daily News|access-date=2018-12-02|language=en}}</ref>

==Joint ventures==
* In August 2019, Aptiv and [[Hyundai Motor Group]] announced plans to establish a $4 billion autonomous driving joint venture<ref name=":0">{{Cite news|last=Frangoul|first=Amour|date=September 24, 2019|title=Hyundai and Aptiv to set up $4 billion autonomous driving joint venture|work=CNBC|url=https://www.cnbc.com/2019/09/24/hyundai-aptiv-to-set-up-4-billion-autonomous-driving-joint-venture.html}}</ref> 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.<ref name="verge-motional" />
* EnerDel – started as a joint venture of [[Ener1]] and Delphi. In August 2008, Ener1 bought exclusive ownership of EnerDel.<ref>{{cite news |url=http://www.sustainablebusiness.com/index.cfm/go/news.display/id/16579 |title=Ener1 Acquires 100% of Lithium-ion Battery Maker |work=Sustainable Business |location=US |date=15 August 2008 |access-date=12 January 2017}}</ref>

==Environmental record==
Researchers at the [[University of Massachusetts Amherst]] identified Delphi corp. as the 21st-largest corporate producer of [[air pollution]] in the United States in 2002.<ref>{{cite web|url=http://www.peri.umass.edu/Toxic-100-Table.265.0.html |title=Political Economy Research Institute |publisher=Peri.umass.edu |access-date=15 April 2012 |url-status=dead |archive-url=https://web.archive.org/web/20111001071549/http://www.peri.umass.edu/Toxic-100-Table.265.0.html |archive-date=1 October 2011}}</ref> According to the study, the manufacturer's most toxic emissions included [[asbestos]] (542 lb/yr), [[chromium]] compounds (1,082 lb/yr), [[lead]] compounds (8,466 lb/yr), and [[sulfuric acid]] (17,600 lbs/year), while the most massive emissions were [[glycol ethers]] (111,520 lbs/year) and [[hydrochloric acid]] (80,000 lb/yr).<ref>{{Cite web|url=http://www.rtknet.org/new/tox100/toxic100.php?company1=6833&chemfac=chem&advbasic=bas|archiveurl=https://web.archive.org/web/20081224155449/http://www.rtknet.org/new/tox100/toxic100.php?company1=6833&chemfac=chem&advbasic=bas|url-status=dead|title=Toxic 100 detailed company report (Toxics Release Inventory)|archivedate=24 December 2008}}</ref>

==References==
{{Reflist}}

==External links==
* [https://www.aptiv.com Aptiv website]
* [https://www.sec.gov/litigation/litreleases/2006/lr19891.htm SEC Litigation Release]
* [https://www.slate.com/id/2127863/ ''Slate'' article on bankruptcy]
* [https://web.archive.org/web/20140108222000/http://www.dphholdingsdocket.com/dph DPH Holdings Corporation], archived website on the old Delphi Corporation and its bankruptcy case, 2005–2014

{{Finance links
| name = Aptiv plc
| symbol = APTV
| sec_cik = 1521332
| reuters = APTV.N
| bloomberg = APTV:US
| yahoo = APTV
| google = APTV
}}

{{General Motors}}
{{Automotive industry in the United States}}

{{authority control|state=expanded}}

[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Irish companies established in 1994]]
[[Category:Automotive companies established in 1994]]
[[Category:Companies based in Dublin (city)]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2005]]
[[Category:2011 initial public offerings]]
[[Category:Tax inversions]]
[[Category:Former General Motors subsidiaries]]

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