Company:Aptiv

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Aptiv PLC
FormerlyDelphi Automotive plc (2011–2017)
TypePublic
ISIN[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=JE00B783TY65 JE00B783TY65]
IndustryAutomotive industry
Founded1994; 32 years ago (1994)
HeadquartersSchaffhausen, Switzerland
Key people
Kevin P. Clark (chairman and CEO)
ProductsVehicle electronics, systems, modules, and components
RevenueIncrease US$20.398 billion (2025)
Decrease US$1.184 billion (2025)
Decrease US$165 million (2025)
Total assetsDecrease US$23.413 billion (2025)
Total equityIncrease US$9.207 billion (2025)
Number of employees
140,000 (2025)
Websiteaptiv.com
Footnotes / references
[1]

Aptiv PLC is a supplier of automotive technology and components. It is organized in Jersey and is a resident of Schaffhausen, Switzerland, for tax purposes. The company operates 139 major manufacturing facilities and 11 major technical centers and has a presence in 50 countries.[1]

In 2025, its products were used in 18 of the 20 top-selling vehicle models in the United States.[1] In 2025, 36% of the company's revenues were derived in the United States, 32% were derived in Europe, the Middle East and Africa, and 29% were derived in Asia-Pacific.[1]

The company traces its roots to Delphi Automotive, which was a subsidiary of General Motors until May 1999.

History

The company was established as the Automotive Components Group of General Motors (GM) in 1994. It changed its name to Delphi Automotive Systems in 1995.[2]

GM also renamed the various divisions within the newly created Delphi unit. Packard Electric became Delphi Packard Electric Systems; Delco Chassis became Delphi Chassis Systems; Inland Fisher-Guide became Delphi Interior and Lighting Systems; Saginaw became Delphi Saginaw Steering Systems; Harrison Radiator became Delphi Harrison Thermal Systems, and AC Delco became Delphi Energy and Engine Management Systems.[2]

In May 1999, GM completed the corporate spin-off of the company.[3]

In 2003, after years of shifting factory work from the United States to lower-cost countries, Delphi began also shifting white-collar work such as engineering and bookkeeping to lower-cost countries.[4]

In March 2005, Delphi disclosed irregular accounting practices dating back to 1999.[5] Executives allegedly used side transactions and manipulated reserves to make financial results appear stronger than they were. Many executives, including CFO Alan Dawes and Chairman J.T. Battenberg were fired or resigned.[6] In October 2006, the executives and the company settled charges by the United States Securities and Exchange Commission.[7]

Delphi reported losses of $4.8 billion in 2004 and $2.4 billion in 2005.[8]

In October 2005, Delphi filed for bankruptcy protection due to unsustainable legacy labor costs, massive pension obligations, and the loss of contracts from GM.[9][10][11]

In February 2007, the company closed its plants in Puerto Real, Cádiz, Spain, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs.[12] The closure came despite agreements by the company to continue its manufacturing operations until 2010 in exchange for more than €25 million from the government.[13] The Regional Government of Andalusia sued the company for breach of local labor laws.[14] In July 2007, Delphi agreed to pay €500 million in costs, including €120 million to workers, for permission to close the plants.[15] Workers received 45 days of severance pay for every year they worked at the company.[16]

In August 2007, a group of investors led by hedge fund Appaloosa Management agreed to lend Delphi $2.55 billion to rescue the company from bankruptcy.[17] In April 2008, the investors pulled the plan, claiming that Delphi did not live up to the terms of the agreement.[18] In May 2008, Delphi sued the investors.[19] In October 2009, the lawsuit was settled.[20]

EnerDel started as a joint venture of Ener1 and Delphi. In August 2008, Ener1 bought exclusive ownership of EnerDel.[21]

In April 2009, CoolIT Systems acquired the assets of Delphi Thermal Liquid Cooling, including intellectual property, machinery, and equipment.[22]

Delphi exited bankruptcy protection in October 2009. As part of the reorganization, Delphi Holdings LLP was acquired by senior creditors Elliott Investment Management and Silver Point Capital. Some of its non-core steering operations were sold to General Motors Company, the successor to the bankrupt Motors Liquidation Company that was formerly General Motors Corporation.[23]

As a result of the bankruptcy reorganization, Delphi surrendered its pension obligations to the Pension Benefit Guaranty Corporation. A group of about 20,000 salaried employees, principally in Ohio, Michigan, New York and Indiana, sued to restore their full pension rights.[24]

The new Delphi was incorporated in the United Kingdom for tax purposes.[25]

In November 2011, the company once again became a public company via an initial public offering, selling 24.1 million shares for $22 each.[26]

In 2013, Delphi became involved in a lawsuit against GM because Delphi manufactured the defective ignition switches used in the Chevrolet Cobalt.[27] In November 2014, Delphi reached a deal to turn over evidence in exchange for being dropped as a defendant in the case.[28]

Delphi sold its Thermal Business unit to Mahle-Behr GmbH in July 2015 for $727 million.[29]

In July 2015, Delphi bought HellermannTyton for $1.7 billion.[30]

Delphi entered into a partnership agreement with Carbon in June 2016 to allow the use of Carbon's Continuous Liquid Interface Production technology and printers.[31]

Delphi acquired NuTonomy for $450 million in October 2017.[32]

In December 2017, the company completed the corporate spin-off of Delphi Technologies, its powertrain and aftermarket related businesses and the company was renamed Aptiv plc.[33]

In May 2018, the company relocated its headquarters from the United Kingdom to Ireland, citing Ireland's favorable regulatory environment, technology hub, access to top universities, and public infrastructure.[34][35]

In August 2019, Aptiv and Hyundai Motor Group announced plans to establish a $4 billion autonomous driving joint venture in which the firms would each have a 50% stake.[36] The joint venture deal was completed in March 2020 and was named Motional in August 2020.[37]

In January 2021, Aptiv revealed a new self-driving car platform that can be applied on various vehicles and that carmakers can upgrade wirelessly.[38]

In January 2022, Aptiv acquired Wind River Systems, a developer of cloud-native, intelligent edge software, from TPG Inc.[39]

In October 2024, the company acquired an 18% stake in Maxieye Automotive Technology, a Chinese provider of products for self-driving cars.[40]

In January 2025, the company relocated its headquarters to Switzerland for tax purposes.[41]

In April 2026, the company completed the corporate spin-off of Versigent.[42]

References

  1. ↑ 1.0 1.1 1.2 1.3 "Aptiv plc 2025 Annual Report (Form 10-K)". United States Securities and Exchange Commission. 6 February 2026. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001521332/000152133226000009/aptv-20251231.htm. 
  2. ↑ 2.0 2.1 "A G.M. Unit Is Renamed". The New York Times. Bloomberg News. 14 February 1995. https://www.nytimes.com/1995/02/14/business/a-gm-unit-is-renamed.html. 
  3. ↑ "General Motors Completes Split From Its Delphi Auto Parts Unit". The Wall Street Journal. May 28, 1999. https://www.wsj.com/articles/SB927913976441727603. 
  4. ↑ "Delphi globetrots to cut white-collar pay". Automotive News. August 8, 2003. https://www.autonews.com/article/20030808/REG/308080710/delphi-globetrots-to-cut-white-collar-pay/. 
  5. ↑ Lundegaard, Karen (March 7, 2005). "Delphi Discloses Accounting Problems". The Wall Street Journal. https://www.wsj.com/articles/SB110994509329670632. 
  6. ↑ "Delphi CFO Resigns, to Restate Results". Fox News. 5 March 2005. https://www.foxnews.com/story/delphi-cfo-resigns-to-restate-results/. 
  7. ↑ "SEC v. Delphi Corporation, J.T. Battenberg, III, Alan Dawes, Paul Free, John Blahnik, Milan Belans, Catherine Rozanski, Judith Kudla, Scot McDonald, B.N Bahadur, Atul Pasricha, Laura Marion, Stuart Doyle and Kevin Curry, United States District Court for the Eastern District of Michigan, SEC v. Delphi Corporation, et al., Civil Action No. 2:06-cv-14891 (AC) (E.D. Mich. Oct. 30, 2006)". United States Securities and Exchange Commission. October 30, 2006. https://www.sec.gov/enforcement-litigation/litigation-releases/lr-19891. 
  8. ↑ "Delphi posts $2.4 billion loss for 2005". NBC News. Associated Press. July 11, 2006. https://www.nbcnews.com/id/wbna13819627. 
  9. ↑ "Delphi files for bankruptcy". NBC News. Associated Press. October 7, 2005. https://www.nbcnews.com/id/wbna9618565. 
  10. ↑ Hakim, Danny (October 9, 2005). "Auto Supplier Delphi Files for Bankruptcy". The New York Times. https://www.nytimes.com/2005/10/09/business/auto-supplier-delphi-files-for-bankruptcy.html. 
  11. ↑ Gross, Daniel (October 11, 2005). "The Oracle of Delphi". Slate. https://slate.com/business/2005/10/the-oracle-of-delphi.html. 
  12. ↑ Bailey, David; Dowsett, Sonya (August 9, 2007). "Auto parts maker Delphi to shut Spain plant". Reuters. https://www.reuters.com/article/idUSL22612329/. 
  13. ↑ "Closure of the Delphi undertaking in Puerto Real, Cádiz". February 26, 2007. https://www.europarl.europa.eu/doceo/document/E-6-2007-1112_EN.html. 
  14. ↑ "Zarrías dice que no permitirá que Delphi 'se ría de Andalucía'" (in es). El Economista. 23 February 2007. https://www.eleconomista.es/empresas-finanzas/amp/170630/Zarrias-dice-que-no-permitira-que-Delphi-se-ria-de-Andalucia. 
  15. ↑ "EXCLUSIVE: SPAIN: Delphi paying EUR500m to close Cadiz". JustAuto. July 6, 2007. https://www.just-auto.com/news/exclusive-spain-delphi-paying-eur500m-to-close-cadiz/. 
  16. ↑ Morgan, Marcus (8 August 2007). "Delphi’s exit from Spain to be followed by other relocations". World Socialist Web Site. https://www.wsws.org/en/articles/2007/08/delp-a08.html. 
  17. ↑ Chakravorty, Jui (August 9, 2007). "Delphi, Appaloosa agree to new investment plan". Reuters. https://www.reuters.com/article/business/autos-transportation/delphi-appaloosa-agree-to-new-investment-plan-idUSN18392302/. 
  18. ↑ "Appaloosa hedge fund terminates $2.55 billion investment agreement with Delphi". The New York Times. April 4, 2008. https://www.nytimes.com/2008/04/04/business/worldbusiness/04iht-delphi.4.11681096.html. 
  19. ↑ Trudell, Craig (May 16, 2008). "Delphi sues Appaloosa, others for failed investment plan". Automotive News. https://www.autonews.com/article/20080516/OEM/305169991/delphi-sues-appaloosa-others-for-failed-investment-plan/. 
  20. ↑ Humer, Caroline; Bailey, David; Chasan, Emily; Gevirtz, Leslie (October 29, 2009). "Delphi, Appaloosa-led group settle-sources". Reuters. https://www.reuters.com/article/markets/europe/delphi-appaloosa-led-group-settle-sources-idUSN29371183/. 
  21. ↑ "Ener1 Acquires 100% of Lithium-ion Battery Maker". The Auto Channel. 16 October 2008. https://www.theautochannel.com/news/2008/10/16/177265.html. 
  22. ↑ "CoolIT Buys Delphi Liquid Cooling Assets". Venture Capital Journal. 28 April 2009. https://www.venturecapitaljournal.com/coolit-buys-delphi-thermal-liquid-cooling-assets/. 
  23. ↑ Kim, Soyoung; Bailey, David (October 6, 2009). "Delphi exits bankruptcy after four years". Reuters. https://www.reuters.com/article/business/autos-transportation/delphi-exits-bankruptcy-after-four-years-idUSTRE595661/. 
  24. ↑ Gnau, Thomas (11 March 2018). "Delphi retirees still fighting for pensions". Dayton Daily News. https://www.mydaytondailynews.com/business/delphi-retirees-still-fighting-for-pensions/b3vtxYNQhvAKb0hmDFiPJM/. 
  25. ↑ Stoll, John D.; McKinnon, John D. (8 August 2014). "Delphi Vows to Protect U.K.-Based Status, Fight IRS; IRS Says Automotive Supplier Should File Taxes as a U.S.-Based Company". The Wall Street Journal (New York City). ProQuest 1551908986. https://www.wsj.com/articles/delphi-vows-to-protect-u-k-based-status-1407496853. 
  26. ↑ Cowan, Lynn (November 16, 2011). "Delphi prices IPO at $22 a share, low end of range". MarketWatch. https://www.marketwatch.com/story/delphi-prices-ipo-at-22-a-share-low-end-of-range-2011-11-16. 
  27. ↑ Vlasic, Bill (28 March 2014). "An Engineer's Eureka Moment with a GM Flaw". The New York Times. https://www.nytimes.com/2014/03/29/business/a-florida-engineer-unlocked-the-mystery-of-gms-ignition-flaw.html. 
  28. ↑ "Delphi turns over GM recall evidence in deal with plaintiffs". Automotive News. November 13, 2014. https://www.autonews.com/article/20141113/OEM11/141119908/delphi-turns-over-gm-recall-evidence-in-deal-with-plaintiffs/. 
  29. ↑ Taylor, Edward (February 19, 2015). "Mahle buys Delphi's air conditioning business for $727 million". Reuters. https://www.reuters.com/article/business/mahle-buys-delphis-air-conditioning-business-for-727-million-idUSKBN0LN0M9/. 
  30. ↑ Bray, Chad (30 July 2015). "Delphi Automotive Agrees to Buy HellermannTyton for $1.7 Billion". The New York Times. https://www.nytimes.com/2015/07/31/business/dealbook/delphi-automotive-agrees-to-buy-hellermanntyton-for-1-7-billion.html. 
  31. ↑ Molitch-Hou, Michael (3 June 2016). "Automotive Giant Delphi Leverages Carbon 3D Printing for Prototyping and More". Engineering.com. https://www.engineering.com/automotive-giant-delphi-leverages-carbon-3d-printing-for-prototyping-and-more/. 
  32. ↑ Coppola, Gabrielle (24 October 2017). "Delphi Buys Self-Driving Startup NuTonomy for $450 Million". Bloomberg News. https://www.bloomberg.com/news/articles/2017-10-24/delphi-buys-self-driving-car-startup-nutonomy-for-450-million. 
  33. ↑ "Delphi Technologies completes spinoff into Powertrain and Aftermarket focused stand-alone company" (Press release). PR Newswire. December 4, 2017.
  34. ↑ "Aptiv announces the relocation of its global headquarters to Dublin" (Press release). Department of Enterprise, Tourism and Employment. May 2, 2018 – via gov.ie.
  35. ↑ Hamilton, Peter (May 2, 2018). "Tech company Aptiv moving global HQ from UK to Republic". The Irish Times. https://www.irishtimes.com/business/technology/tech-company-aptiv-moving-global-hq-from-uk-to-republic-1.3481535. 
  36. ↑ Frangoul, Amour (September 24, 2019). "Hyundai and Aptiv to set up $4 billion autonomous driving joint venture". CNBC. https://www.cnbc.com/2019/09/24/hyundai-aptiv-to-set-up-4-billion-autonomous-driving-joint-venture.html. 
  37. ↑ Hawkins, Andrew (August 11, 2020). "Hyundai's autonomous vehicle project with Aptiv will now be called Motional". The Verge. https://www.theverge.com/2020/8/11/21362322/hyundai-aptiv-motional-autonomous-vehicle-joint-venture. 
  38. ↑ Carey, Nick (January 11, 2021). "Aptiv unveils new self-driving platform with wireless upgrades". Reuters. https://www.reuters.com/article/us-autos-aptiv-autonomous-idUSKBN29G1F1. 
  39. ↑ "Aptiv Announces the Acquisition of Wind River, A Leading Provider of Intelligent Edge Software Solutions, From TPG" (Press release). Wind River Systems. January 11, 2022.
  40. ↑ Jian, Yang (October 30, 2024). "Aptiv acquires 18% stake in intelligent driving tech provider Maxieye". Automotive News. https://www.autonews.com/china/an-aptiv-acquires-stake-in-chinas-maxieye/. 
  41. ↑ "US auto tech firm Aptiv leaves Ireland for Switzerland over tax". Business Post. 27 January 2025. https://www.businesspost.ie/news/us-auto-tech-firm-aptiv-leaves-ireland-for-switzerland-over-tax/. 
  42. ↑ "Versigent Launches as New Publicly Traded Company" (Press release). Business Wire. April 1, 2026.



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