Delphi to Supply Receivers
as Hyundai Goes Across the Board in Offering Satellite Radio
LAS VEGAS, Jan. 4 /PRNewswire/ -- Delphi Corp. has won a substantial
portion of the satellite receiver business for Hyundai Motor America, company
officials announced here today at the 2006 International Consumer Electronics
Show.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
Delphi will supply XM Satellite Radio capable receivers for the Hyundai
Santa Fe, Azera and Elantra. Hyundai is the first automaker to add standard
satellite radio to its full vehicle lineup.
Delphi leads the market in supplying satellite radio receivers with more
than 10 OEM customers. Delphi provides factory-installed satellite radios to
General Motors, DaimlerChrysler, Ford, Honda, Audi, VW, Porsche, Mercedes,
Pana-Pacific, and various commercial vehicle manufacturers.
The company began production of its first receivers in 2001 for 2002 model
year vehicles. Delphi has produced more than 8.5 million OEM and aftermarket
satellite radio units.
"Delphi is a major supplier and promoter of satellite radio technology,
and we believe it will continue to grow at a very fast rate," said Beth
Schwarting, Delphi Electronics & Safety general director of sales and
marketing. "We are very upbeat on the continued popularity of consumers
taking the satellite radio option on new vehicles."
In less than 20 years, Hyundai has moved into fourth place in overall
sales of import carmakers in the U.S. market. Taking satellite radio across
the board on its models is a forward move for Hyundai and should significantly
increase the total number of satellite radios in the market, according to
Schwarting.
In addition to offering a wide variety of programming, satellite radio is
capable of receiving a radio signal from coast-to-coast without fading.
"Radio is the last bastion of electronics communications equipment to go
digital," said Schwarting. "We are proud to be a part of it."
In the last decade alone, Delphi has pioneered or led 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 both domestic satellite radio
providers. Since beginning production in 1936, Delphi has manufactured more
than 260 million radio systems and introduced an array of new technologies.
For more information about Delphi, visit http://www.delphi.com .
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a
subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility
vehicles are distributed in the U.S. by Hyundai Motor America and are sold and
serviced by more than 670 dealers throughout the nation.
Note: Satellite reception depends on the ability of the antenna to receive
a signal. The signal may not be available in buildings or if obstructed (e.g.
by mountains, trees, bridges, etc.).
This press release as well as other statements made by Delphi may contain
forward-looking statements within the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 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. 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 DIP facility; the Company's ability to obtain court approval with
respect to motions in the chapter 11 proceeding prosecuted by it from time to
time; the ability of the Company to develop, prosecute, confirm and consummate
one or more plans of reorganization with respect to the chapter 11 cases;
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; the ability of the Company to attract,
motivate and/or retain key executives and associates; and the ability of the
Company to attract and retain customers. Other risk factors are listed from
time to time in the Company's SEC reports, including, but not limited to the
annual report on Form 10-K for the year ended December 31, 2004 and its most
recent quarterly report on Form 10-Q and current reports on Form 8-K. Delphi
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events 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 pre-petition liabilities, common stock and/or other equity
securities. No assurance can be given as to what values, if any, will be
ascribed in the bankruptcy proceedings to each of these constituencies.
Accordingly, the Company urges that the appropriate caution be exercised with
respect to existing and future investments in any of these liabilities and/or
securities.
SOURCE Delphi Corporation
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Related links:
http://www.delphi.com/media
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO PRN Photo
Desk photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/076666.html
CONTACT:
Milton Beach of Delphi Corp.,
+1-765-451-0655, Milton.beach@delphi.com
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