Continental adds new business area, sets timeline for Vitesco spin-off
Rubber & Plastics News Staff
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HANOVER, Germany Continental A.G. s drive to be a mobility leader is so important it s built in the company structure.
The Continental Supervisory Board March 16 approved a realignment plan that would transform the advanced driver assistance systems and automated driving into Autonomous Mobility, an independent business area, nestled under the Automotive Technologies group business sector.
The move, while underscoring Continental s focus in recent years, is strategic in that it positions the company for greater growth, according to CEO Nikolai Setzer. The autonomous mobility market will more than double in the next three years, Setzer said in a statement. Owing to the strategic significance of the necessary technologies and their promising growth prospects, we are intensifying our focus here by creating new structures to research, develop and industrialize these techno