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February 08, 2022 08:07 AM

Continental considers partial IPO of automated driving business, report says

Continental said to be considering partial IPO of self-driving arm as division is set to be single legal unit from next year.

Reuters
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    Continental's dashboard-wide screen

    Continental has previously shown a dashboard-wide screen that would be used by self-driving vehicles for the driver and passenger to access entertainment services or other activities.

    BERLIN -- Continental wants to make its automated driving business more independent and is considering a partial IPO, Handelsblatt reported, citing anonymous sources.

    The Autonomous Mobility division of the company's automotive segment is to become its own legal entity from Jan. 1, 2023, but an IPO could also be on the cards in future, sources told the German newspaper.

    Continental, which split off its powertrain division Vitesco last year, did not confirm the report, stating that cooperation between business fields under one roof was the company's top priority at present.

    "No further steps are planned at this time," a spokesperson said.

    Continental, based in Hanover, Germany, ranks No. 6 on the Automotive News Europe list of top 100 global suppliers, with 2020 sales to automakers of $29.7 billion.

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        • 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
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