Delphi Automotive (old DLPH) finalized its spin out of Delphi Technologies PLC, the powertrain portion of its business this week, becoming the newest constituent of the Driverless Transportation Weekly Stock Index (D20). It then renamed the balance of its business as Aptiv, which will focus on three segments: Electrical / Electronic Architecture, Electronics, and Safety.
For every three shares of Delphi Automotive PLC that were held on Nov. 22, shareholders received one share of the new Delphi Technologies PLC. The new company will trade on the NYSE under the old symbol of DLPH. The balance of the company, under the new name Aptiv, will trade on the NYSE under the symbol APTV.
The D20 will add APTV and drop DLPH, because Aptiv focuses on connected driving and driverless technology components. Aptiv will retain the recent acquisitions nuTonomy and Movimento, which bolster its push into driverless technology.
All this spinout activity didn’t help the D20, though. The index had 14 price losers, and lost 1.8 percent of its value, closing at 252.14.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Lyft’s driverless pilot in Boston has begun its rollout with nuTonomy’s technology powering it. After a June announcement, Uber’s primary competition in the U.S. has recently begun providing driverless ride service to some Lyft patrons in Boston’s Seaport area. New D20 constituent, Aptiv, purchased nuTonomy for $400 million in October while it was still part of Delphi Automotive.
Image: Aptiv car / Credit: Aptiv