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Delphi Automotive Systems history
Delphi Automotive Systems company history timeline
Almost 85 percent of Delphi's Asian sales were coming from clients other than GM. Delphi would be hit hard by the currency devaluations that attended the 1998 Asian financial crisis, but would remain committed to its investment in the region.
Revenues were about $28.5 billion in 1998, when the company posted a net loss of $93 million.
GM conducted an initial public offering (IPO) of 17.7 percent of Delphi's shares in February 1999, which raised $1.7 billion.
In February of 1999 Delphi completed its initial public offering and began trading its shares to the public.
In May 1999 General Motors sold its remaining interest to the public.
The National Packard Museum opened at its permanent location on July 4, 1999.
Several companies were acquired in the first year, including TRW Inc.'s Lucas Diesel parts unit, bought for $871 million in November 1999.
In 1999, terminals with welded seams and improved snap ring designs for better tactile feel and retention were developed.
In July 2000, Delphi announced plans to dismiss 900 manufacturing workers in Europe as part of a restructuring there.
High-tech products accounted for a third of company revenues in 2000.
Sales slipped a bit to $29.1 billion in 2000.
At the end of 2001, the company had approximately 350 new products, in various stages of production, with plans to introduce them during the next three years.
During 2001 Delphi engineers earned more than 600 patents worldwide.
Delphi was scheduled to lose its right of last refusal for replacement business in North America with GM on January 1, 2002.
The company's name was changed to Delphi Corp. in March of 2002 to denote the organization's growing independence from General Motors and its diversification into non-automotive industries, such as home appliances and fiber optics telecommunications components.
"delphi launches wireless diagnostic system." motor age, may 2002.
sherefkin, robert. "suppliers drop 'automotive'; auto firm by any other name may lure investors." automotive news, 1 april 2002.
2002: Delphi Automotive Systems was renamed Delphi Corporation reflecting its diversified business direction.
Year-on-year net sales for the first quarter of 2002 improved to $6.7 billion, up from $6.5 billion the previous year.
2004: Delphi was subpoenaed by the Securities & Exchange Commission (SEC) in July for irregular accounting practices and financial transactions.
Delphi was aiming to grow its nonautomotive revenues to $700 million by 2005.
2005: Delphi disclosed irregular accounting practices.
2006: Delphi announced it would sell off or close 21 of its 29 plants in the United States.
May 2008: Delphi filed a lawsuit against investors.
6 October 2009: Delphi’s core assets were purchased by a group of private investors to create a new Delphi Corporation.
Delphi sold its Thermal Business unit to Mahle-Behr GmbH in July 2015.
The company spun off its powertrain division and aftermarket-related businesses (now Delphi Technologies) in December 2017 and changed its name to Aptiv plc.
In August 2020, Aptiv and Hyundai Motor Group expanded a joint autonomous driving venture and named it Motional.
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Delphi Automotive Systems competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| AVL Test Systems, Inc. | 1991 | $42.0M | 200 | - |
| WLR Recovery Associates II LLC | 2001 | $2.3B | 12,010 | - |
| Visteon | 2000 | $3.9B | 10,000 | - |
| Allison Transmission | 1915 | $3.2B | 2,900 | 114 |
| FCA US LLC | 1925 | $83.1B | 90,000 | 420 |
| American Axle & Manufacturing | 1994 | - | 25,000 | 74 |
| Valeo Electrical Systems, Inc. | 1993 | $1.2B | 2,133 | - |
| Brose North America, Inc. | 1977 | $1.6B | 8,000 | 24 |
| Superwinch | 1970 | $930,000 | 7 | - |
| Yazaki North America | 1966 | $1.1B | 1,500 | - |
Delphi Automotive Systems history FAQs
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Delphi Automotive Systems may also be known as or be related to DELPHI AUTOMOTIVE SYSTEMS OV and Delphi Automotive Systems.