Delphi and Autonet
TROY, Mich. — Delphi Corporation
(PINKSHEETS: DPHIQ) and Autonet Mobile announced an agreement today to
market and develop Internet-connectivity technology products for
original equipment manufacturers (OEMs). Delphi and Autonet Mobile are
developing the next generation telematics platform that will deliver
entertainment, downloadable content and many other forms of media that
will generate a new ecosystem of revenue for OEMs. The two companies are field testing new
telematics and in-car entertainment products using Internet-based media
services designed on the Autonet Mobile network architecture. Delphi
and Autonet Mobile will also be hardening communication connections to
automotive grade to meet current OEM requirements. Additionally, the
two companies will provide demonstration vehicles equipped with the new
technology for OEMs and consumer market testing. “Customers want flexibility and
convenience while they are in their vehicles,” said Tom Puza, managing
director of telematics at Delphi Electronics & Safety Division. “We
believe our experience in providing electronics products that withstand
tough automotive environments and our expertise in electronics systems
integration of hardware and software will be valuable in taking this
technology to 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 keep passengers connected in a moving vehicle. The
technology helps to eliminate the “dropped call” syndrome. Vehicle
passengers stay connected to the Internet with any WiFi device while on
the road. The technology provides access to e-mail, web information,
games and other Internet-based activities. Adult passengers can access
weather reports and traffic conditions, make dinner or movie
reservations or shop online, while children in the back seat can
complete homework, care for their Webkinz pets or play online games. “Early on we recognized that new
applications and new ways to communicate would form around the car,”
said Sterling Pratz, CEO of Autonet Mobile. “Together with Delphi our
service and technology delivers next generation entertainment systems
and allows automotive manufacturers to enter the lucrative market of
downloadable content and Internet media services â?? which previously
only existed on millions of handsets and home computing devices. We see
a future where providing Internet for the car will change the face of
in-car entertainment products and services provided by the automotive
industry.” A leader in providing electronics
technologies that meet rugged automotive standards, Delphi provides
vehicle entertainment systems and information for one and two-way voice
and data links from the vehicle to terrestrial and satellite networks. Delphi has produced more than 283
million mobile radios and introduced an array of new wireless
technologies to OEMs. In the last 25 years, Delphi has been at the
forefront in the introduction of multi-speaker, multi-amp premium
audio, CD playbacks, DVD rear seat video, MP3 playbacks, advanced TV
reception systems and satellite radio into the market. Delphi supplies
both OEM and retail hardware for satellite radio providers. For more
information about Delphi, visit www.delphi.com. Autonet Mobile is the world’s first
in-car Internet service provider. Founded by a corporate executive and
former race car driver and a leading network architect and designer,
the company is dedicated to enhancing the in-car experience by bringing
the power of the Internet to the 200+ million cars on the road in the
U.S. Autonet Mobile currently provides uconnect web as a dealer
installed Mopar® Accessory that is available to 3,400 Chrysler, Jeep®
and Dodge dealerships nationwide along with the Avis Connect service
for Avis Rent a Car which continues to roll out nationwide. For more
information about Autonet Mobile, visitwww.autonetmobile.com. FORWARD LOOKING STATEMENTS This press
release as well as other statements made by Delphi may contain
forward-looking statements that reflect, when made, the Company’s
current views with respect to current events and financial performance.
Such forward-looking statements are and will be, as the case may be,
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, express or implied, by such forward-looking statements.
In some cases, you can identify these statements by forward-looking
words such as “may,” “might,” “will,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential” or
“continue,” the negative of these terms and other comparable
terminology. Factors that could cause actual results to differ
materially from these forward-looking statements include, but are not
limited to, the following: the ability of the Company to continue as a
going concern; the ability of the Company to operate pursuant to the
terms of the debtor-in-possession financing facility and its advance
agreement with GM, to obtain an extension of term or other amendments
as necessary to maintain access to such facility and advance agreement;
the Company’s ability to obtain Court approval with respect to motions
in the chapter 11 cases prosecuted by it from time to time (including
the motions announced in the Company’s September 12, 2008 news
release); the ability of the Company to achieve all of the conditions
to the effectiveness and/or final consummation of the Amended and
Restated Global Settlement Agreement and Amended and Restated Master
Restructuring Agreement with General Motors; the ability of the Company
to consummate its amended plan of reorganization which was confirmed by
the Court on January 25, 2008, any subsequent modifications to the
confirmed plan or any other subsequently confirmed plan of
reorganization; risks associated with third parties seeking and
obtaining Court approval to terminate or shorten the exclusivity period
for the Company to propose and confirm one or more plans of
reorganization, for the appointment of a chapter 11 trustee or to
convert the cases to chapter 7 cases; the ability of the Company to
obtain and maintain normal terms with vendors and service providers;
the Company’s ability to maintain contracts that are critical to its
operations; the potential adverse impact of the chapter 11 cases on the
Company’s liquidity or results of operations; the ability of the
Company to fund and execute its business plan (including the
transformation plan described in Item 1. Business “Plan of
Reorganization and Transformation Plan” of the Annual Report on Form
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 to attract, motivate
and/or retain key executives and associates; the ability of the Company
to avoid or continue to operate during a strike, or partial work
stoppage or slow down by any of its unionized employees or those of its
principal customers and the ability of the Company to attract and
retain customers. Additional factors that could affect future results
are identified in the Annual Report on Form 10-K for the year ended
December 31, 2007 filed with the SEC, including the risk factors in
Part I. Item 1A. Risk Factors, contained therein, and the Company’s
quarterly periodic reports for the subsequent periods, including the
risk factors in Part II. Item 1A. Risk Factors, contained therein,
filed with the SEC. Delphi disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events and/or otherwise. Similarly, these and
other factors, including the terms of any reorganization plan
ultimately confirmed, can affect the value of the Company’s various
prepetition liabilities, common stock and/or other equity securities. For more information contact: DelphiMilton Beachmilton.beach@delphi.com[1] 765.451.0655Autonet MobileCheryl Delgrecocdelgreco@mispr.com[1] 617.723.4004
Delphi and Autonet Mobile Announce Agreement to Develop and Market Mobile Internet Connectivity for Vehicles
Delphi Chooses Autonet Mobile for New Internet-Based Telematics & Media Platform
Release Date: November 03, 2008
