Delphi and Autonet Mobile Announce Agreement to Develop and Market ...

Tag : Vehicles


Delphi Corporation (PINKSHEETS: DPHIQ) and Autonet Mobile announcedan agreement today to market and develop Internet-connectivitytechnology products for original equipment manufacturers (OEMs).Delphi and Autonet Mobile are developing the next generationtelematics platform that will deliver entertainment, downloadablecontent and many other forms of media that will generate a newecosystem of revenue for OEMs.
The two companies are field testing new telematics and in-carentertainment products using Internet-based media services designedon the Autonet Mobile network architecture. Delphi and AutonetMobile will also be hardening communication connections toautomotive grade to meet current OEM requirements. Additionally,the two companies will provide demonstration vehicles equipped withthe new technology for OEMs and consumer market testing.
"Customers want flexibility and convenience while they are in theirvehicles," said Tom Puza, managing director of telematics at DelphiElectronics & Safety Division. "We believe our experience inproviding electronics products that withstand tough automotiveenvironments and our expertise in electronics systems integrationof hardware and software will be valuable in taking this technologyto the next level with OEM customers."
Optimized for the in-car experience and for minimal interruption,Autonet Mobile turns vehicles into secure mobile WiFi hot spots.The company's patent-pending TRU Technology is designed to keeppassengers connected in a moving vehicle. The technology helps toeliminate the "dropped call" syndrome. Vehicle passengers stayconnected to the Internet with any WiFi device while on the road.The technology provides access to e-mail, web information, gamesand other Internet-based activities. Adult passengers can accessweather reports and traffic conditions, make dinner or moviereservations or shop online, while children in the back seat cancomplete homework, care for their Webkinz pets or play onlinegames.
"Early on we recognized that new applications and new ways tocommunicate would form around the car," said Sterling Pratz, CEO ofAutonet Mobile. "Together with Delphi our service and technologydelivers next generation entertainment systems and allowsautomotive manufacturers to enter the lucrative market ofdownloadable content and Internet media services -- whichpreviously only existed on millions of handsets and home computingdevices. We see a future where providing Internet for the car willchange the face of in-car entertainment products and servicesprovided by the automotive industry."
A leader in providing electronics technologies that meet ruggedautomotive standards, Delphi provides vehicle entertainment systemsand information for one and two-way voice and data links from thevehicle to terrestrial and satellite networks.
Delphi has produced more than 283 million mobile radios andintroduced an array of new wireless technologies to OEMs. In thelast 25 years, Delphi has been at the forefront in the introductionof multi-speaker, multi-amp premium audio, CD playbacks, DVD rearseat video, MP3 playbacks, advanced TV reception systems andsatellite radio into the market. Delphi supplies both OEM andretail hardware for satellite radio providers. For more informationabout Delphi, visit www.delphi.com .
Autonet Mobile is the world's first in-car Internet serviceprovider. Founded by a corporate executive and former race cardriver and a leading network architect and designer, the company isdedicated to enhancing the in-car experience by bringing the powerof the Internet to the 200+ million cars on the road in the U.S.Autonet Mobile currently provides uconnect web as a dealerinstalled Mopar® Accessory that is available to 3,400Chrysler, Jeep® and Dodge dealerships nationwide along withthe Avis Connect service for Avis Rent a Car which continues toroll out nationwide. For more information about Autonet Mobile,visit www.autonetmobile.com .
FORWARD LOOKING STATEMENTS
This press release as well as other statements made by Delphi maycontain forward-looking statements that reflect, when made, theCompany's current views with respect to current events andfinancial performance. Such forward-looking statements are and willbe, as the case may be, subject to many risks, uncertainties andfactors relating to the Company's operations and businessenvironment which may cause the actual results of the Company to bematerially different from any future results, express or implied,by such forward-looking statements. In some cases, you can identifythese statements by forward-looking words such as "may," "might,""will," "should," "expects," "plans," "anticipates," "believes,""estimates," "predicts," "potential" or "continue," the negative ofthese terms and other comparable terminology. Factors that couldcause actual results to differ materially from theseforward-looking statements include, but are not limited to, thefollowing: the ability of the Company to continue as a goingconcern; the ability of the Company to operate pursuant to theterms of the debtor-in-possession financing facility and itsadvance agreement with GM, to obtain an extension of term or otheramendments as necessary to maintain access to such facility andadvance agreement; the Company's ability to obtain Court approvalwith respect to motions in the chapter 11 cases prosecuted by itfrom time to time (including the motions announced in the Company'sSeptember 12, 2008 news release); the ability of the Company toachieve all of the conditions to the effectiveness and/or finalconsummation of the Amended and Restated Global SettlementAgreement and Amended and Restated Master Restructuring Agreementwith General Motors; the ability of the Company to consummate itsamended plan of reorganization which was confirmed by the Court onJanuary 25, 2008, any subsequent modifications to the confirmedplan or any other subsequently confirmed plan of reorganization;risks associated with third parties seeking and obtaining Courtapproval to terminate or shorten the exclusivity period for theCompany to propose and confirm one or more plans of reorganization,for the appointment of a chapter 11 trustee or to convert the casesto chapter 7 cases; the ability of the Company to obtain andmaintain normal terms with vendors and service providers; theCompany's ability to maintain contracts that are critical to itsoperations; the potential adverse impact of the chapter 11 cases onthe Company's liquidity or results of operations; the ability ofthe Company to fund and execute its business plan (including thetransformation plan described in Item 1. Business "Plan ofReorganization and Transformation Plan" of the Annual Report onForm 10-K for the year ended December 31, 2007 filed with the SEC)and to do so in a timely manner; the ability of the Company toattract, motivate and/or retain key executives and associates; theability of the Company to avoid or continue to operate during astrike, or partial work stoppage or slow down by any of itsunionized employees or those of its principal customers and theability of the Company to attract and retain customers. Additionalfactors that could affect future results are identified in theAnnual Report on Form 10-K for the year ended December 31, 2007filed with the SEC, including the risk factors in Part I. Item 1A.Risk Factors, contained therein, and the Company's quarterlyperiodic reports for the subsequent periods, including the riskfactors in Part II. Item 1A. Risk Factors, contained therein, filedwith the SEC. Delphi disclaims any intention or obligation toupdate or revise any forward-looking statements, whether as aresult of new information, future events and/or otherwise.Similarly, these and other factors, including the terms of anyreorganization plan ultimately confirmed, can affect the value ofthe Company's various prepetition liabilities, common stock and/orother equity securities.