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.