Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: All or nothing: Why circular business models require a holistic approach
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Suppliers
March 16, 2021 09:51 AM

Continental bets on automated-driving growth

Supplier will move ahead with the spinoff of its Vitesco powertrain division

Bloomberg
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Continental web.jpg

    Continental will create a dedicated unit for its self-driving technology as the German supplier aims to benefit from rising sales for electric cars filled with electronic gadgetry.

    Continental’s board approved plans to move the driver-assistance business into a special “Autonomous Mobility” unit at the start of next year, the company said on Tuesday.

    The supplier is also pushing ahead with the spinoff of its Vitesco powertrain division in the second half of 2021.

    “The autonomous mobility market will more than double in the next three years,” CEO Nikolai Setzer said. “Our goal is and will continue to be global technology leadership when it comes to assisted and automated driving.”

    Vitesco CEO Andreas Wolf told Automotive News Europe recently that he expects 60 percent of global light vehicle production will be electrified by 2030 and that he sees very strong growth in China and Europe for electrified vehicles.

    Continental earlier this month warned profitability will be held back by an industry-wide shortage of semiconductors that could drag on through the rest of the year and ongoing fallout from the pandemic. The manufacturer has been hard hit by the global health crisis that’s disrupted the industry, having announced plans last year to cut or transfer some 30,000 jobs.

    A steady decline in returns culminated in the abrupt departure of former CEO Elmar Degenhart. Since then, chip troubles have plagued plants across the industry.

    Setzer pledged in December to sharpen the group’s focus on growth areas. Investments in automated driving functions will rise by as much as 250 million euros ($298 million) this year as the auto industry adds electric models and software-based functions.

    Continental swung to a 718 million-euro operating loss last year, while the adjusted result more than halved to 1.3 billion euros. The adjusted EBIT margin slumped to 3.5 percent.

    Continental, of Hanover, Germany, ranks No. 4 on the Automotive News list of top 100 global suppliers, with 2019 sales to automakers of $35.3 billion.

    Reuters contributed this report

    SUPPLIER SPOTLIGHT NEWSLETTER: Sign up for our monthly newsletter delivering exclusive interviews with executives from leading auto suppliers.
    RECOMMENDED FOR YOU
    China's Gotion is readying an EV battery breakthrough
    Recommended for You
    Gotion batteries.jpg
    China's Gotion is readying an EV battery breakthrough
    President Emmanuel Macron speaks with ProLogium's CEO Vincent Yang
    France rolls out the red carpet for EV battery factories
    DiDi Autonomous Driving's first concept vehicle DiDi Neuron.jpg
    Valeo to work with China's Didi to develop safety technology for robotaxis
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us