LONDON, Sept. 9, 2020 /PRNewswire/ -- Delphi Technologies PLC (NYSE: DLPH), a global provider of automotive propulsion systems, continues its momentum by securing major Original Equipment Manufacturer (OEM) electrification business, driving profitable long-term growth. Today, the company is announcing its latest win with a premium European OEM to supply its 800-volt inverters for the OEM's next generation of battery electric vehicles (BEVs). This major win is the company's second largest power electronics award and strategically positions Delphi Technologies as a leading supplier of inverters and related technologies for future BEVs globally.
This announcement follows on the heels of recent business wins in China for power electronics. Combined with its landmark 800-volt win secured in 2019, its largest ever business award, the company is now positioned to be the major inverter supplier to three of the top four global premium OEMs in the world.
These wins are the result of Delphi Technologies' strategic investments since becoming an independent, public company to globally expand its electrification capabilities, including engineering, testing and manufacturing, to meet the changing market dynamics for propulsion systems in the automotive industry.
"We take great pride in knowing we have earned the respect of our customers to trust us with major shares of their most important e-drivelines," said Rick Dauch, CEO, Delphi Technologies. "To be an industry leader in the highly competitive electrification market is reflective of the pioneering technologies and remarkable engineering talent within our organization. Our recent investments in electrification are starting to pay off."
This latest award is expected to launch in 2024 across the customers' BEVs and will also be the first introduction of Delphi Technologies' sixth generation of its proprietary Viper power switch. This inverter enables electrical systems up to 800 volts, significantly extending electric vehicle range and halving charging times when compared with today's state-of-the-art 400-volt systems. The technology, which supports multi-voltage platforms, is an evolution of the company's proven high-voltage inverter and builds on 25 years of vehicle electrification experience.
IHS estimates that up to 45 percent of global vehicle production will be electrified by 2025, with around 46 million electrified vehicles being sold annually, rising to up to 57 percent by 2030 (around 62 million vehicles annually). Inverters are one of the highest-value electrification components and their efficiency has an industry-changing impact on many aspects of vehicle performance.
"We believe that securing this premium platform inverter business will allow us to capture additional volume on larger vehicle platforms to be sourced in 2021," said Kevin Quinlan, senior vice president and general manager, Electrification & Electronics, Delphi Technologies.
Delphi Technologies has designed its inverter technology to simplify vehicle manufacturers' multi-voltage strategies as they extend their electric and hybrid vehicle ranges. The company's Electrification & Electronics product engineering and manufacturing is strengthened by its extensive global footprint with regional capabilities, and support from qualified supply chain partners.
This press release, as well as other statements made by Delphi Technologies PLC, contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that reflect, when made, the Company's current views with respect to future events, including the proposed acquisition of the Company by BorgWarner (the "proposed transaction" or the "Transaction") and financial performance, or that are based on its management's current outlook, expectations, estimates and projections, including with respect to the combined company following the proposed transaction, if completed. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results. 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About Delphi Technologies
Delphi Technologies is a global provider of propulsion technologies that make vehicles drive cleaner, better and further. It offers pioneering solutions for internal combustion engine, hybrid and electric passenger cars and commercial vehicles. Delphi Technologies builds on its Original Equipment expertise to provide leading service solutions for the aftermarket. Headquartered in London (UK), the company operates technical centers, manufacturing sites, customer support service centers in 24 countries and employs more than 21,000 people around the world. Visit www.delphi.com to learn more.
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