About Aptiv PLC

Aptiv PLC operates as a leading global technology and mobility architecture company primarily serving the automotive sector. The company delivers end-to-end mobility solutions, enabling its customers’ transition to more electrified, software-defined vehicles. The company designs and manufactures vehicle components and provides electrical, electronic and active safety technology solutions to the global automotive and commercial vehicle markets, creating the software and hardware foundation for vehicle features and functionality. The company’s Advanced Safety and User Experience segment focuses on providing the necessary software and advanced computing platforms, and its Signal and Power Solutions segment focuses on providing the requisite networking architecture required to support the integrated systems in today’s complex vehicles. Together, the company’s businesses develop the ‘brain’ and the ‘nervous system’ of increasingly complex vehicles, providing integration of the vehicle into its operating environment. The company is one of the largest vehicle technology suppliers and its customers include the 25 largest automotive original equipment manufacturers (OEMs) in the world. The company has a presence in 50 countries and have approximately 22,200 scientists, engineers and technicians focused on developing market relevant product solutions for its customers. Segments Signal and Power Solutions—This segment provides complete design, manufacture and assembly of the vehicle’s electrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable management, electrical centers and high voltage power and safety-critical data distribution systems. The company’s products provide the signal distribution and computing power backbone that supports increased vehicle content and electrification, reduced emissions, higher fuel economy and off-vehicle connectivity. Advanced Safety and User Experience—This segment provides critical technologies and services to enhance vehicle safety, security, comfort and convenience, including sensing and perception systems, electronic control units, multi-domain controllers, vehicle connectivity systems, cloud-native software platforms, application software, autonomous driving technologies and end-to-end DevOps tools. The company’s business is diversified across end-markets, regions, customers, vehicle platforms and products. The company’s customer base includes the 25 largest automotive OEMs in the world, and in 2023, 28% of its net sales came from the Asia Pacific region, which it has identified as a key market likely to experience substantial long-term growth. The company’s ten largest platforms in 2023 were with six different OEMs. In addition, in 2023, the company’s products were found in 17 of the 20 top-selling vehicle models in the United States (U.S.), 16 of the 20 top-selling vehicle models in Europe and 12 of the 20 top-selling vehicle models in China. The company has established a worldwide design and manufacturing footprint with a regional service model that enables it to efficiently and effectively serve its global customers from best cost countries. This regional model is structured primarily to service the North American market from Mexico, the South American market from Brazil, the European market from Eastern Europe and North Africa, and the Asia Pacific market from China. The company’s global scale and regional service model enables it to engineer globally and execute regionally to serve the largest OEMs, which are seeking suppliers that can serve them on a worldwide basis. The company’s footprint also enables it to adapt to the regional design variations the global OEMs require while also serving key growth market OEMs. Products The company’s organizational structure and management reporting support the management of these core product lines: Signal and Power Solutions. This segment provides complete design, manufacture and assembly of the vehicle’s electrical architecture, including connectors, wiring assemblies and harnesses, cable management, electrical centers and high voltage and safety-critical distribution systems. The company’s products provide the signal distribution and computing power backbone that supports increased vehicle content and electrification, reduced emissions, higher fuel economy and off-vehicle connectivity. High quality connectors are engineered primarily for use in automotive and related markets, and also have applications in the industrial, telematics, aerospace, defense and medical sectors. Electrical centers provide centralized electrical power and signal distribution and all of the associated circuit protection and switching devices, needed to support the optimization of the overall vehicle electrical system. Distribution systems, including 48-volt hybrid and high voltage systems, are integrated into one optimized vehicle electrical system that can utilize smaller cable and gauge sizes and ultra-thin wall insulation. Advanced Safety and User Experience. This segment provides critical technologies and services to enhance vehicle safety, security, comfort and convenience, including sensing and perception systems, electronic control units, multi-domain controllers, vehicle connectivity systems, cloud-native software platforms, application software, autonomous driving technologies and end-to-end DevOps tools. Advanced Safety primarily consists of solutions that enable advanced safety features and vehicle automation, as well as radar, vision and other sensing technologies. User Experience primarily enables in-cabin solutions around infotainment, driver interface and interior sensing solutions. Smart Vehicle Compute and Software primarily consists of zone control and centralized computing platforms, as well as edge-to-cloud tools. Seasonality In general, the company’s business is moderately seasonal, as its primary North American customers historically reduce production during the month of July and halt operations for approximately one week in December. The company’s European customers generally reduce production during the months of July and August and for one week in December. The company’s Chinese customers generally halt operations for one week during the months of February and October. Shut-down periods in the rest of the world generally vary by country. In addition, automotive production is traditionally reduced in the months of July, August and September due to the launch of component production for new vehicle models. Competition The company’s competitors in each of its operating segments are as follows: Signal and Power Solutions: Amphenol Corporation; Draexlmaier Group; Lear Corporation; Leoni AG; Molex Inc. (a subsidiary of Koch Industries, Inc.); Sumitomo Electric Industries; TE Connectivity, Ltd.; and Yazaki Corporation. Advanced Safety and User Experience: Bosch Group; Continental AG; Denso Corporation; Harman International (a subsidiary of Samsung Electronics); Hyundai Mobis; LG Electronics; Magna International; Panasonic Corporation; Valeo; Visteon Corporation; and ZF Friedrichshafen AG. Customers The company sells its products and services to the major global OEMs in every region of the world. The company’s ten largest customers accounted for approximately 54% of its total net sales for the year ended December 31, 2023, none of which individually exceeded 10%. Research and Development The company’s total investment in research and development, including engineering, was approximately $1.8 billion for the year ended December 31, 2023. History The company was founded in 2011. The company was incorporated in 2011 under the laws of Jersey. It was formerly known as Delphi Automotive PLC and changed its name to Aptiv PLC in 2017.