Delphi and Autonet Mobile Announce Agreement to Develop and Market Mobile Internet Connectivity for Vehicles
Categories: Industry News Multimedia Systems Mobile Internet
Delphi Chooses Autonet Mobile for New Internet-Based Telematics & Media Platform
Release Date: November 03, 2008
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 – 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, visit http://delphi.com/news/pressReleases/pr_2008_11_03_001/www.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 Beach
milton.beach@delphi.com
[1] 765.451.0655
Autonet Mobile
Cheryl Delgreco
cdelgreco@mispr.com
[1] 617.723.4004
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