Tenneco to Spin Off DRiV
DRiV is the name of the company that is being spun off from Tenneco later this year, a consequence of Tenneco’s acquisition of Federal-Mogul last year.
Once the separation is complete, Tenneco will focus on powertrain technology, providing OEMs with products for fuel economy, power output, and criteria pollution. These products address gasoline, diesel and, yes, electrified powertrains.
DRiV will have two distinct markets. One is aftermarket products and the other for ride performance (think shocks) and braking for OEMs.
In making the announcement, Brian Kesseler, co-CEO, Tenneco and future chairman and CEO, DRiV, said, ““DRiV will be a unique new business, a more than $6 billion start-up, built from the combined strengths of Tenneco, Federal-Mogul and Öhlins - laser-focused on innovation, performance, brand development and customer service. Our global scale, our stable of well-respected and enduring aftermarket brands and our longtime partnerships with the world’s leading original equipment manufacturers give us a significant competitive advantage. We are strategically positioned to capitalize on secular trends such as the expansion of vehicles in operation globally, as well as growth in intelligent suspension, new mobility models and the evolution of autonomous driving.”
While the reference to autonomous driving might seem, well, gratuitous, in point of fact, should the other technologies (sensors and processors, for example) fall into place, suspensions are going to become all the more important because if vehicle occupants are interested in doing things like working on a tablet, the vibrations that we generally take for granted in vehicles today will be wholly unacceptable.
Of course, between now and then, the potholes that are rife throughout many portions of the U.S. and elsewhere ought to keep the engineering and manufacturing people at DRiV busy.