Delphi powertrain unit to be separate company

Detroit • Automotive parts and electronics maker Delphi Corp. plans to spin off its vehicle powertrain operations into a separate publicly traded company. The British company with U.S. operations in suburban Detroit says Delphi shareholders will get stock in both companies in the tax-free deal. Shares of the company surged more than 10 percent to $86.49 Wednesday. Delphi, the former parts arm of General Motors, has been shedding conventional automotive businesses ever since it was spun off as a ...

Share this post