DELPHI CORP ! Ein Riese erwacht!

Delphi gets until May 21 to reach GM, lenders deal
Auto parts supplier Delphi Corp. has a few more weeks to work out a deal to sell its steering business to General Motors Corp., according to documents filed Wednesday in bankruptcy court in New York.

NEW YORK —
Auto parts supplier Delphi Corp. has a few more weeks to work out a deal to sell its steering business to General Motors Corp., according to documents filed Wednesday in bankruptcy court in New York.

The sale was to be discussed at a Delphi court hearing May 7 but was adjourned to the company's May 21 hearing.

On April 29, the government's auto task force rejected a deal that would have allowed Delphi to sell the Saginaw, Mich.-based business to GM and let the struggling automaker increase its credit commitments to Delphi by $150 million. But the door was left open to a later agreement.

The steering operation employs about 7,730 people globally, including 3,080 in Saginaw.

The Treasury Department oversees the auto task force. Detroit-based GM needs government approval to buy the steering division because it has received $15.4 billion in government loans and faces a June 1 deadline to restructure or go into bankruptcy protection.

Troy, Mich.-based Delphi, GM's former parts division, has been operating under Chapter 11 bankruptcy protection since October 2005.

Copyright © 2009 The Seattle Times Company

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Some of the Delphi Powertrain Systems products scheduled to be on display in Vienna include:

-- Diesel Fuel Injection Systems
-- Delphi Multec diesel common rail with balance valve fast servo
solenoid injector
-- Delphi Direct Acting common rail injection system with the Direct
Acting Piezo injector
-- Gasoline Engine System Technology
-- Delphi Multec 20 Stratified Gasoline Direct Injection system with
fast solenoid injector
-- Variable Valve Actuation with two step valve lift control
-- Transmission Management System
-- Fuel Handling & Evaporative Management Systems

MERCEDES-BENZ E-CLASS LINE-UP FEATURES OUTSTANDING FUEL ECONOMY, REDUCED EMISSIONS AND IMPROVED ENGINE POWER AND TORQUE

Delphi unveiled the next generation of diesel fuel injectors -- named the Delphi Direct Acting common rail system -- in Sept. 2008. Last December, Delphi announced that the new system would debut on the Mercedes C250 CDI.

Since the beginning of this year, Daimler has introduced two new models fitted with Delphi's system: the new E-Class sedan unveiled at the North American International Auto Show in January and the new E-Class coupé which debuted at the Geneva Motor Show in March.

The new E-Class line-up takes advantage of Delphi's revolutionary technology to offer drivers improved engine output and torque while reducing emissions and fuel consumption. The new E-Class sedan is available with completely new four-cylinder engines in two versions equipped with Delphi's Direct Acting common rail injection system:

-- The E250 CDI with 150 kW/204 hp and 500 Newton meters develops a 25
percent higher torque than the previous V6 diesel engine but uses around 23
percent less fuel at only 5.3 liters per 100 kilometers (combined NEDC
consumption). This corresponds to 139 grams of CO2 per kilometer.
-- The E220 CDI BlueEFFICIENCY with 125 kW/170 hp also has a fuel
consumption level of 5.3 liters per 100 kilometers.


The new E-Class coupé will be available with Mercedes-Benz' new fuel efficient four-cylinder diesel engine: the E250 CDI BlueEFFICIENCY. The engine has an output of 150 kW/204 hp and develops a maximum torque of 500 Newton meters -- available at just 1600 rpm. This rates the engine as some 36 percent more powerful than the previous four-cylinder diesel engine while consuming around 17 percent less fuel: 5.1 liters per 100 kilometers (combined NEDC consumption, provisional figure). The corresponding carbon dioxide emission level is 135 grams per kilometer. Combined, these characteristics make the E250 CDI BlueEFFICIENCY one of the most economical vehicles in its class.

All the new E-Class engines meet EU5 emission standards.

DELPHI PRESENTING PAPER

On Friday (May 8), Delphi's Dr. Detlev Schoeppe, Technical director for Delphi Diesel Systems, will present a paper detailing Delphi's Direct Acting common rail injection system.

"In this paper, we are providing a technical description of the system design, working principle and the performance characteristics which are the basis for premium engine performance," said Dr. Schoeppe. The design concept put into production has been made possible by the practical realization of a new and superior approach to the nozzle needle control. The previous servo needle control has been replaced by a unique design in which the piezo ceramic actuator now has direct authority over needle motion. Elimination of hydraulic servo also eliminates the need for back-lead drain and the associated parasitic losses.

The paper's co-authors include:

1) Stefan Zuelch - Chief Engineer, Advanced Diesel Engineering - Delphi
Diesel Systems in Gillingham, UK
2) Derk Geurts - Chief Engineer, Diesel Common Rail System - Delphi Diesel
Systems in Bascharage, Luxembourg
3) Christian Gris - Chief Engineer - Delphi Diesel Systems in Blois, France
4) Dr. Rainer W. Jorach - Chief Engineer, Common Rail Pumps - Delphi Diesel
Systems in Gillingham, UK

ABOUT THE SYMPOSIUM

The 30th International Vienna Motor Symposium promises to highlight the latest results in worldwide engine and powertrain development, future legislation, new engines, fuels, drive train electrification, hybrid technology, CO2-reduction, and exhaust emission control. The high-caliber symposium is supplemented by a technical exhibition and a wide-ranging social program. Visit www.xn--vk-eka.at/index_en.htm for more information.

ABOUT DELPHI

Delphi is a leading global supplier of mobile electronics and transportation systems, including powertrain, safety, steering, thermal, and controls and security systems, electrical/electronic architecture, and in-car entertainment technologies. Engineered to meet and exceed the rigorous standards of the automotive industry, Delphi technology is also found in computing, communications, consumer accessories, energy and medical applications. Headquartered in Troy, Mich., Delphi has approximately 146,600 employees and operates 150 wholly owned manufacturing sites in 34 countries with sales of $18.1 billion in 2008. Delphi can be found on the Internet at www.delphi.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, 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, and partial temporary accelerated payments agreement with GM; the Company's ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to achieve all of the conditions to the effectiveness of those portions of the Amended and Restated Global Settlement Agreement and Amended and Restated Master Restructuring Agreement with GM which are contingent on Delphi's emergence from chapter 11; the ability of the Company to obtain Court approval to modify the Plan which was confirmed by the Court on January 25, 2008, to confirm such modified plan or any other subsequently filed plan of reorganization and to consummate such plan; 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 as described in the proposed modifications to its Plan as filed with the Court 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, 2008, filed with the SEC, including the risk factors in Part I. Item 1A. Risk Factors, contained therein. 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. It is possible that Delphi's common stock may have no value and claims relating to prepetition liabilities may receive no value.

But the Treasury Department's automotive task force, which now has oversight over GM's major financial deals, has balked at spending more without a clear-cut plan showing how the money would be used.

Industry observers have speculated the Delphi could ultimately be forced to shut down if it fails to get the financing it needs from GM.

Delphi attorney Jack Butler said progress is being made in talks between Delphi, its lenders, GM and the task force, but wouldn't reveal details.

"There is a significant amount of activity among the stakeholders and the company is moving toward a resolution of these cases," Butler said after Thursday's hearing.

Meanwhile, GM's future also remains in doubt. It's living on $13.4 billion in government loans and needs to cut its debt, reduce labor costs and take other restructuring steps before the June 1 deadline. If it doesn't meet the deadline, the automaker's chief executive has said it will file for bankruptcy protection.

Butler said GM's deadline was taken into account when Delphi's new dates were negotiated. Also as part of the amended financing agreement, Delphi also agreed to include a section stating that it would continue to "explore strategic alternatives" for resolving its Chapter 11 case.

Both Delphi and GM have cut thousands of jobs and shuttered plants over the last several months in hopes of riding out one of the worst U.S. vehicle sales declines in more than 25 years.

Delphi has sold businesses that it has deemed "noncore" in an attempt to cut costs and raise the funding it needs to emerge from court protection.

But the auto industry's troubles and tighter credit have made it tougher for the supplier to find the financing it needs and it has been forced to increasingly rely on its former parent.

Earlier this year, Delphi attempted to sell its global steering business back to GM, as part of a deal where GM would increase its credit commitments to Delphi by $150 million to a total of $450 million. But the proposed sale was vetoed by the task force, which must approve these kinds of deals under the terms of GM's current federal aid.

Both the proposed sale and the increase in credit commitments are scheduled to be discussed at Delphi's May 21 hearing.

Meanwhile, Delphi's continuing woes have had an adverse effect on GM.

In announcing plans to temporarily close 13 assembly plants in the U.S. and Mexico -- some for more than two months -- GM said last month that it had proposed a solution that would resolve Delphi's bankruptcy case, only to have it be rejected by the supplier's lenders.

GM said at the time that without a resolution of the dispute, Delphi or its lenders could force the automaker into an "uncontrolled shutdown."

Mobileye N.V. liefert für Delphis Optik- und Radarsystem den Chip EyeQ2 zur Verarbeitung von visuellen Informationen sowie die dazugehörigen Visions-Algorithmen. Dieses System ist das Herzstück des neuen aktiven Sicherheitssystems des Volvo S60. Delphi stellt dabei das hochentwickelte Kameramodul und den Radarsensor zur Verfügung. Im Gegensatz zu den meisten Konkurrenzsystemen, die lediglich eine beschränkte Bremskraft von 50 Prozent bieten, verarbeitet das Volvo-System Informationen von Delphis optischen und Radarsensoren, um so im Falle eines hohen Kollisionsrisikos mit Fussgängern oder anderen Fahrzeugen die volle, automatisch kontrollierte Bremskraft zum Einsatz bringen zu können.

"Volvos (News) kompromisslose Sicherheitsphilosophie entspricht unserem Ziel, dafür zu sorgen, dass Fahrzeugführer unabhängig vom aktuellen Konzentrationsniveau oder möglichen Ablenkungen konzentriert, aufmerksam und reaktionsfähig bleiben", so Dr. Amnon Shashua, Vorsitzender von Mobileye N.V. und Professor für Computerwissenschaften an der Hebräischen Universität Jerusalem in Israel. "Wir sind hocherfreut darüber, in Volvos Team für Sicherheitslösungen und Technologien mitmischen zu können."

Es ist geplant, dass der von Mobileye entwickelte Chip EyeQ2 zum ersten Mal im Projekt der Volvo Car Corporation eingesetzt wird. Das Einchip-System EyeQ2 verfügt über die nötige Rechenleistung für die anspruchsvolle Aufgabe, ausser Fahrzeugen, Fahrspuren und Datenfusionen auch Fussgänger erfassen zu können. Dieses System ist eine Erweiterung des aktuellen Systems von Delphi - Mobileye, das bereits in vorhergehenden Fahrzeugmodellen von Volvo installiert wurde.

Das Optik- und Radarsystem basiert auf einzigartigen Datenfusions-Algorithmen, die eingehende Daten von optischen und Radarsensoren zusammenführen, um so für erweiterte Funktionalität und erhöhte Verkehrssicherheit zu sorgen. Visuelle und akustische Warnsignale alarmieren Fahrzeugführer, wenn Volvos aktives Sicherheitssystem ein hohes Kollisionsrisiko zwischen dem sich nähernden Fahrzeug und einem Fussgänger, einem Fahrzeug in Bewegung oder einem parkenden Fahrzeug erkennt. Sollten Fahrzeugführer nicht auf die Warnsignale reagieren, so betätigt das System automatisch die Bremsen, um eine Kollision zu verhindern oder ihr Ausmass zumindest erheblich zu verringern.

Automobilhersteller, Flottenbetreiber, Endkunden und Regierungsbehörden sind sich darüber einig, dass Sicherheitslösungen wie intelligente sichtgestützte Technologien Leben retten können. Die wachsende Anzahl von Originalausrüstungsherstellern (OEMs), Herstellern und Vertreibern, die Systeme, die Leben retten können, in ihre Fahrzeuge integrieren, ist ein weiterer Beweis für die Popularität von Mobileyes Technologien.

Informationen zu Mobileye

Mobileye N.V. hat seinen Hauptsitz in den Niederlanden und unterhält Forschungs- und Entwicklungszentren in Israel sowie Niederlassungen in den USA, Zypern und Japan. Mobileye ist auf dem Gebiet moderner Technologien für Bildaufnahme- und Verarbeitungsverfahren für Automobilanwendungen führend. Das Produktangebot des Unternehmens umfasst eine komplette Auswahl optischer Anwendungen. Mobileyes einzigartige monokulare Bildplattform funktioniert wie ein "drittes Auge" und hilft Fahrzeugführern dabei, für erhöhte Verkehrsicherheit zu sorgen und Unfälle zu vermeiden. Dieses Produkt hat das Potenzial, die Art und Weise, wie wir fahren, von Grund auf zu verändern. Das Einchipsystem EyeQ mit den dazugehörigen Software-Algorithmen von Mobileye wird bereits seit 2007 für Fahrzeugmodelle von BMW, GM und Volvo eingesetzt.

Weitere Informationen über Mobileye finden Sie hier: www.mobileye.com

(c) 2009 Mobileye N.V. Alle Rechte vorbehalten