SOURCE: Delphi Corporation

October 14, 2008 08:00 ET

Delphi Technologies Keep New Ferrari California Cool, Wired and Smooth

Supplier's Climate Control, Advanced Electrical/Electronic and Controlled Suspension Systems Onboard New Sportscar

TROY, MI--(Marketwire - October 14, 2008) - Delphi Corp. (PINKSHEETS: DPHIQ) is supplying key systems to the new Ferrari California, the latest addition to the legendary Italian automaker's sporty Grand Tourer segment, which recently made its debut at the Paris Motor Show.

Delphi is supplying the complete climate control system, electrical/electronic system components including wiring harnesses featuring Halogen-Free Ultra-Thin-Wall Cable, and MagneRide controlled suspension technology to this new eight-cylinder luxury vehicle.

"Ferrari is a premier automaker known for delivering the utmost in quality, luxury and performance. We are proud to have significant content on this new vehicle and to contribute to the unforgettable driving experience Ferrari drivers have come to expect," said Ron Pirtle, president, Powertrain Systems and president, Delphi Europe, Middle East and Africa.

Climate Control System

Delphi is supplying the new Ferrari California with the complete air conditioning system, including dual-zone heating, ventilation and air conditioning (HVAC), condenser with integrated receiver drier, latest generation of compact variable compressor with specific features to meet the high engine speed and acceleration, control head and software; and additional system components (including hoses, filters and temperature sensors). Ferrari recently recognized Delphi Thermal Systems by naming the company among the finalists in the Ferrari Podio 2008 awards -- Ferrari's annual awards for suppliers and partners worldwide. Delphi was nominated in the "Innovation" category for its climate control systems support.

Electrical/Electronic Architecture

Beginning in 2009, the Ferrari California will also feature wiring harnesses with Delphi's Halogen-Free Ultra-Thin-Wall Cable in its first European application. This will make Ferrari the first European automaker to introduce the new highly durable automotive cable with significantly lighter and thinner insulation than traditional cable. Halogen-Free Cable, a recyclable and environmentally-friendly product, is free of dangerous halogens and offers excellent pinch resistance, nearly double that of traditional cable, and outstanding abrasion resistance. The use of this advanced cable also leads to cable size and weight reduction which, in turn, cuts down on the amount of CO2 emissions the vehicle produces. The California also features connection systems including some special application designs such as the Door-Off connection system.

MagneRide™ Controlled Suspension System

Delphi also continues its long-lasting relationship with Ferrari by equipping as optional the new California with its revolutionary MagneRide™ Controlled Suspension System. Delphi's latest generation MagneRide™ is capable of adapting the suspension to almost any condition thus providing great comfort and exceptional pleasure to drivers in what is the every day as well as particular driving conditions. MagneRide™, the world's most advanced production ride control system virtually eliminates the traditional need for a ride/handling compromise. Using patented shock absorbers filled with a proprietary controllable fluid, the system offers increased damping tuning capability and speed of response over valve-based controlled suspension systems. This means better transient handling -- both for turn-in and yaw stability -- and superior road isolation that will result in increased driver comfort. Drivers will also experience a more precise steering feel and control of the vehicle even at top speeds.

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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; 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 General Motors which are contingent on Delphi's emergence from chapter 11; the ability of the Company to obtain court approval to modify its amended plan of reorganization which was confirmed by the Court on January 25, 2008 as set forth in its filing on October 3, 2008 and to confirm such modified plan or any subsequent modifications to the confirmed plan or any other subsequently confirmed 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 of reorganization 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, 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.

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