DELPHI WINS FIRST-EVER SATELLITE RADIO CONTRACT TO
SUPPLY AM/FM/XM RECEIVERS FOR GM VEHICLES
TROY, Mich., Nov 23, 1999 /PRNewswire via COMTEX/ -- Delphi
Automotive Systems (NYSE: DPH) announced today that it has been awarded
the first ever satellite radio manufacturing order. Delphi recently
completed a deal to develop and manufacture original equipment radios
capable of receiving AM, FM and XM Satellite Radio signals for new
General Motors vehicles.
The deal represents a multi-year purchase order for radios; specific
terms of the agreement were not disclosed.
"We are very pleased to receive this initial order for satellite band
receivers," said David B. Wohleen, president of Delphi Delco
Electronics Systems. "From putting the first car radio into an
instrument panel to today's satellite receiver business, we are
uniquely positioned to help our customers take vehicle entertainment
and information systems into the next century."
Ron Zarella, President of GM North America, commented, "Superior
entertainment and information services will play a significant role in
the automobile of the future. We look forward to working with Delphi
and XM to build the next generation of radios for the enjoyment of GM
car buyers."
Hugh Panero, XM's president and CEO, added, "This purchase order is
another key step in XM's effort to bring a new band of radio to
listeners across the country. Delphi has a long history of recognizing
winning innovations in radio technology for the car, and we are very
pleased that this automotive audio leader will soon be manufacturing
AM/FM/XM compatible radios. The contract between GM and Delphi
validates our technology and our business model."
Radios and antennas capable of receiving a proprietary XM Satellite
signal will be manufactured by Delphi Delco Electronics Systems, a
subsidiary of Delphi Automotive Systems. The consumer interface on the
new receivers will be simple and user-friendly, featuring existing band
selection methods to provide FM1, FM2, AM and the new XM Satellite
Radio S-Band selections. The S- Band will provide the channel, type of
music and song name on its LED display.
Delphi Delco Electronics Systems produces a complete product line of
original equipment audio systems, providing everything from antennas,
speakers to a broad range of head units that accommodate various
playback devices.
XM Satellite Radio (Nasdaq: XMSR) will use direct satellite-to-receiver
broadcasting technology to provide listeners in their cars and at home
with crystal-clear sound, from coast to coast. The subscription service
is scheduled to start during the first half of 2001 for $9.95 a month.
XM will offer as many as 100 national channels of music, news,
entertainment and children's programming directly from its satellites
to cars, other vehicles and homes. American Mobile Satellite
Corporation (Nasdaq: SKYC) holds controlling interest in the company,
whose other investors include industry leaders Clear Channel
Communications Inc.; DIRECTV, Inc., a unit of Hughes Electronics
Corporation; General Motors Corporation; and a private investment group
comprised of Columbia Capital, Telcom Ventures L.L.C., and Madison
Dearborn Partners Communications. For more information, please visit
www.xmradio.com .
Founded in 1908, General Motors Corporation (NYSE: GM) (www.gm.com )
has grown into the world's largest full-line vehicle manufacturer. In
1998, GM partnered with over 30,000 supplier companies worldwide. As
the largest U.S. exporter of cars and trucks, and having manufacturing
and assembly operations in 50 countries, General Motors has a global
presence in over 190 countries. Along with designing, manufacturing,
and marketing of vehicles, General Motors has substantial interests in
telecommunications and space, consumer electronics, financial and
insurance services, locomotives, and heavy-duty automatic
transmissions.
Delphi Automotive Systems, with headquarters in Troy, Mich., USA is a
world leader in automotive component and systems technology. Delphi's
three business sectors -- Dynamics and Propulsion; Safety, Thermal &
Electrical & Architecture; Electronics & Mobile Communications --
provide comprehensive product solutions to complex customer needs.
Delphi has approximately 201,000 employees and operates 168 wholly
owned manufacturing sites, 38 joint ventures, 51 customer centers and
sales offices, and 27 technical centers in 37 countries. Regional
headquarters are located in Paris Tokyo and Sao Paulo, Brazil. Delphi
can be found on the Internet at www.delphiauto.com .
Forward Looking Statements The private Securities Litigation Reform Act
of 1995 (the "Act") provides a safe harbor for forward-looking
statements made by Delphi or on Delphi's behalf. All statements which
address operating performance, events or developments that Delphi
expects or anticipates may occur in the future, including statements
relating to volume growth, awarded sales contracts, and earnings per
share growth or statements expressing general optimism about future
operating results, are forward looking statements. These statements are
made on the basis of management's views and assumptions; as a result,
there can be no assurance that management's expectations will
necessarily come to pass. A list of factors which could impact future
events and performance is included in the Delphi Automotive Systems
Corporation 1998 Anuual Report on Form 10-K filed with the Securities
and Exchange Commission.
SOURCE Delphi Automotive Systems
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Milton Beach of Delphi Delco Electronics Systems, 765-451-0655,
mbeach@mail.delcoelect.com; or Vicki Stearn of XM Satellite
Radio holdings
Inc., 202-969-7070, vicki.stearn@xmradio.com
/Company News On-Call:
prnewswire.com or fax,
800-758-5804, ext. 076666
WEB PAGE: xmradio.com
delphiauto.com
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