Delphi Powertrain Business Establishes Separate Company Focus on Electric Vehicles and Autopilot
Kevin Clark, President and CEO, said: "The plan announced today has brought an exciting opportunity for our business. It will create two independent companies. Each independent company has a unique product focus. , a reliable business model, and the flexibility to access accelerated investment in advanced technologies to solve the most complex challenges customers face.†“In the era of unprecedented industrial change, our business operations and strategic partnerships will have the advantage Each company is more focused on its unique opportunities to continue to develop the best advanced technologies and to help our customers continue." After the split, Delphi will now split into two separate, publicly listed companies, one mainly consisting of the current Electronic and Electrical Architecture Systems Division (E/EA) and the Electronic and Security Department (E&S), focusing on signal and electrical distribution. Centralized computing platforms, advanced security and autopilot systems, enhanced infotainment and user experience, vehicle connectivity and electrification and data services, etc. Another listed company was mainly purchased from the split powertrain division, with a focus on Advanced engine management and electrification system. The division of the powertrain business will enjoy tax relief services, and plans to complete in March 2018, while Delphi's shareholders will hold the shares of both companies. Timothy Manganello, currently an independent director of the Delphi Board of Directors, will serve as the non-executive chairman of the newly established Powertrain Board after the spin-off. Manganello most recently served as executive chairman and chief executive officer of BorgWarner, Inc. Liam Butterworth, formerly senior vice president and president of the powertrain system, will serve as president and chief executive officer of the new entity. It is reported that Delphi's powertrain business last year had a turnover of $4.5 billion. Delphi’s share price soared by 12% after Delphi announced the news. Advanced Connectivity, Automation, and Mobility (E/EA and E&S) After completion of this transaction, E/EA and E&S will continue to be global technology leaders in signal and power distribution, centralized computing platforms, advanced security and automated driving systems, enhanced infotainment and user experience, vehicle connectivity and electrification And data services and other areas have unparalleled strength. While focusing on these strength advantages, the company has an industry-leading cost structure. With 15,000 engineers and 145,000 employees worldwide, it will surely achieve profitable growth in the future. E/EA and E&S will continue to focus on a combination of security, green, and interconnected technology solutions to meet the increasingly complex needs of customers. The company operates a flexible and lean business model that creates value for its shareholders through regulatory and profitable growth, strong cash generation capabilities, and balanced and value-added cash allocation. Powertrain Company Powertrain is a global technology leader focused on improving environmental efficiency and vehicle performance to optimize vehicle propulsion systems. The company is a global supplier of original equipment manufacturers and aftermarket. It has 20,000 employees worldwide and 5,000 engineers. Its operating revenue in 2016 was approximately US$4.5 billion. Powertrain's advanced propulsion technology portfolio benefits from increasingly stringent regulatory standards and consumer demand for improved fuel economy and reduced CO2 emissions. With its global engineering capabilities, lean and flexible manufacturing facilities, the company will focus on achieving above-market, sustainable and profitable growth. In addition, other auto parts suppliers are also turning to electric vehicles and driverless areas. Bosch announced this week that it will sell starter and generator business to Zhengzhou Coal Mining Machinery Group. Delphi recently released its fiscal revenue in the first quarter of 2017 on the official website. Its net profit from its continuing operations in the first quarter rose 4.7% to US$335 million, and its earnings per share was US$1.24. Excluding one-time items, Delphi’s first-quarter earnings per share were $1.59. Golf Accessories Grand Dragon Sports Company Limited , https://www.golfyy.com
Delphi Announces Duty-free Split of Its Powertrain System Division