Delphi’s CEO has said that the company could spend up to US$3bn this year on a large acquisition to bolster its business.

The automotive supplier industry has seen a wave of consolidations recently as major suppliers reposition for major challenges and growth ahead – especially in advanced technologies involving driver assistance and connectivity.  

Delphi CEO Kevin Clark told Reuters in an interview that the company could spend US$1bn-US$3bn this year on an acquisition. 

He also said the probability of such a large acquisition related to its hardware business was “greater than 50-50”.