By on May 3, 2017

Delphi and Mobileye

Automotive supplier Delphi announced plans on Wednesday to spin off all operations tied to internal combustion engines and focus solely on electric propulsion and autonomous vehicles.

The move boosted share prices while underscoring the problems facing the industry’s old guard. That’s not to suggest that internal combustion engines are going to vanish anytime soon, but the investors who fund their development seem progressively less interested in backing them. An interesting choice, considering EV-maker Tesla is valued well above a traditional manufacturer like Ford — despite not being nearly as profitable.

Delphi says it will spin off its $4.5 billion powertrain division into a separate publicly traded company by early 2018 and is considering a new name.   (Read More…)

By on April 25, 2014

Mary-Barra-Chevrolet-Cruze

Reuters reports General Motors announced in its regulatory filing Thursday that it was under the microscope of five different government agencies related to its numerous recalls as of late. Aside from investigations by the U.S. Attorney’s Office for the Southern District of New York, the National Highway Traffic Safety Administration, and both houses of Congress, the automaker revealed the Securities and Exchange Commission and an unnamed state attorney general’s office were conducting their own probes. The filing also acknowledged GM was under the gun of 55 pending class action lawsuits in the U.S., and five of the same in Canada. GM said they were working with all of the investigations, though the automaker did not say what the SEC was looking for in its probe.

(Read More…)

By on April 21, 2014

File photo of General Motors logo outside its headquarters at the Renaissance Center in Detroit

Reuters reports a lawsuit related to the 2014 General Motors recall crisis filed in federal court in California has placed airbag supplier Continental Automotive Systems U.S. at-fault for its role in the recall. Attorney Adam Levitt of Grant & Eisenhoffer proclaimed the supplier knew about the out-of-spec ignition switch at the heart of the recall as early as 2005, yet “did nothing to redesign its airbags” to deploy even when electrical power was cut, “nor did it warn NHTSA or the public.” Continental joins Delphi Automotive as the second supplier to face a lawsuit linked to the ongoing recall crisis.

(Read More…)

By on February 5, 2014

Delphi HQ Sign

In a statement made by Delphi Automotive this week, the supplier announced that they had more than doubled their net income in Q4 2013 to $298 million in comparison to $136 million in Q4 2012.

(Read More…)

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