Cost of Driverless Vehicles to Drop Dramatically: Delphi CEO

Delphi Automotive Plc, which is changing its name to Aptiv Inc., wants to cut the cost of self-driving cars by more than 90 percent to around $5,000 by 2025, according to Chief Executive Officer Kevin Clark. Aptiv, which starts trading on Tuesday under the stock symbol APTV on the New York Stock Exchange, also wants to help automakers rethink the way vehicles are engineered and built and make money on the data generated by autonomous electric vehicles. A spinout, Delphi Technologies, will continue to trade under the symbol DLPH on the New York Stock Exchange and will focus on traditional engine components. Aptiv will concentrate on self-driving and other technologies. The changes are effective after the exchange closes on Monday.