News & Events
Continental AG to start next phase of strategic realignment
- April 1, 2021
- Posted by: Ion Cimpoeru
- Category: News
The Supervisory Board of Continental AG agreed to an important next phase of the strategic realignment of the mobility supplier, as it was informed by the company in the press release of March 16.
It supports the future organizational realignment of the business with systems for advanced driver assistance and automated driving. From January 1, 2022, the business is to be elevated to the independent “Autonomous Mobility” business area within the Automotive Technologies group sector. Its core will consist of the current Advanced Driver Assistance Systems (ADAS) business unit.
As part of the publication of its preliminary annual figures on March 9, 2021, the company announced that it would be spending an additional sum of around €200 million to €250 million on developing its technologies for assisted and autonomous driving this year alone.
In the years 2018 to 2020, Continental received orders in this area totaling more than €9 billion from customers worldwide.
The Supervisory Board approved the planned spin-off and subsequent stock market listing of Vitesco Technologies. Subject to the approval of the Annual Shareholders’ Meeting on April 29, 2021, the company continues to strive for the spin-off of the powertrain business in the second half of 2021.