(Reuters) – Auto parts supplier Aptiv Plc said on Tuesday it expects revenue to jump by nearly a third and operating income to more than double in 2025 from 2022 as its clients pour billions to tap into strong demand for electric vehicles.
Shares of the company, which supplies to Tesla Inc and General Motors, rose 6% in morning trade.
Aptiv is one among the many suppliers increasingly shifting their focus towards electric vehicle businesses as automakers produce more such units.
The company said it expects operating income between $3.2 billion and $3.5 billion, compared with the $1.26 billion it reported in 2022.
Revenue is estimated to rise to between $23 billion and $24 billion in 2025.
Dublin-based Aptiv, which makes advanced driver assistance systems, also forecast global light vehicle production growth of 2% in 2025.
(Reporting by Raechel Thankam Job; Editing by Sriraj Kalluvila)
