Delphi Automotive is changing its name to Aptiv Inc, the company will focus on self-driving and other technologies. A spinout, Delphi Technologies, will continue to focus on traditional engine components. Both the companies will be trading with different names i.e. APTV and DLPH on New York stock exchange. The changes will be effective from today when exchange reopens, Reuters reported.
Delphi Automotive CEO Kevin Clark said that the company is working to cut the cost of the self-driving cars by more than 90% to $5000 by 2025. The current estimates for the cost of a self-driving hardware and software package range from $70,000 to $150,000,
Ativ also wants to help automakers rethink the way vehicles are engineered and built and make money on the data generated by autonomous electric vehicles. The technological developments and higher volume will also contribute to the fall in the cost of sensors like Lidar– which is the most expensive component– ultimately bringing down the cost of the self-driving cars, the CEO has said in an interview.
The company recently acquired nuTonomy–a self-driving startup– and has joined consortium formed by Intel, Mobileye, BMW to develop fully autonomous car technology.