DRIV Incorporated is the name of the new aftermarket and ride performance company spinning-off from Tenneco, following Tenneco’s announcement in 2018 to create two new companies through the acquisition of Federal-Mogul.
While Tenneco will continue to focus on OE engine to tailpipe solutions, DRIV will serve as a global multi-line, multi-brand aftermarket supplier as well as a global original equipment (OE) ride performance and braking suppliers to aftermarket, light vehicle, and commercial vehicle customers.
Expected to be created in mid-2020 and based in Chicago, DRIV will be a $6 billion start-up combining the strengths of Tenneco, Federal-Mogul Motorparts and Öhlins Racing to offer a product range that includes chassis parts; shock absorbers and struts; emission control systems; brakes; gaskets and seals; NVH performance materials; engine products; and filtration, lighting and ignition products.
Andrew Sexton, group vice president and general manager, DRIV Motorparts-EMEA, says: “We are a company that generates the majority of its revenue from aftermarket; 54% of our 2018 pro forma earnings of $6.4 billion were generated from aftermarket and 46% from original equipment customers. In comparison, our competitors are OEMs that have aftermarket generating only a small portion of their revenues. The concept of being an aftermarket-oriented house of brands, we have the OE technology and expertise to back our products and services.
During the last year, we brainstormed on how DRIV could be structured and how we would want to be perceived in the market. We considered different business models such as a technology-based company that is driven by engineering or a process-driven company that uses internal processes to become manufacturing experts. We wanted to be oriented around technology and have solid processes, but in order to be successful in aftermarket, we decided to adopt a more robust, solutions-centred business model.”
Andrew Sexton, group vice president and general manager, DRIV Motorparts-EMEA.
DRIV comprises 31 automotive brands, among which principal product brands include Monroe, Öhlins Walker, Clevite Elastomers, MOOG, Fel-Pro, Wagner, Ferodo, and Champion; 14 brands including Monroe, Ferodo, Moog, and Champion are older than 100 years.
“With 31 brands, we have the differentiation to offer a suite of premium products as well as mid-range products at different price points,” says Sexton.
Massimiliano Milani, executive director-marketing, DRIV Motorparts-EMEA, explains the brand philosophy: “The DRIV logo evokes the idea of progressive thought and suggests movement with a digital tachometer. The letter ‘i’ resembles the number ‘1’ to represent one team. We’ve used vintage racing colours to represent our racing culture.”
“We are also extending these values to customer engagement and training. Two years ago, we developed a concept called Garage Gurus, which comprises four pillars – gurus or experts on the go; on-call service with troubleshooting in six languages; online platform where any installer can obtain technical training videos from basis to advanced levels; and experts on sites for long-term support,” adds Milani.
Massimiliano Milani, executive director-marketing, DRIV Motorparts-EMEA.
DRIV’s global footprint includes 64 manufacturing facilities: 26 in the Americas, 23 in EMEA and 15 in Asia Pacific. DRIV will also operate 29 engineering and technical facilities worldwide.
