Continental realigns, Powertrain division goes public
The resolution of the Continental Executive Board provides for the formation of a holding structure of Continental AG under the umbrella brand “Continental Group”. The three divisions are called “Continental Rubber”, “Continental Automotive” and “Powertrain”. For the latter, a partial IPO is planned for mid-20199; however, the parent company intends to retain control of the unit in the long term.
The former Chassis & Safety and Interior divisions are to be reorganized by the beginning of 2020. They will result in two business segments under the new names “Autonomous Driving Technologies” and “Vehicle Networking Technologies”. Their business performance will be reported in the future “Continental Automotive” division. Both are supported by a newly created, central research and development department Automotive. The two current divisions, Tire Technologies and Continental Rubber, will be combined.
In addition to the combustion drive business, Powertrain’s tasks also include the entire future business with hybrid and electric drives as well as all ongoing battery activities. These include, for example, the recently announced joint venture for 48-volt battery systems. Andreas Wolf (57), currently responsible for the Body & Security business unit in the Interior Division, is to take over as head of the powertrain company.
Next page: Solid-state battery production in sight?
After this change, Continental is considering producing battery cells in solid-state technology itself in the new division in the future – provided it succeeds in developing an attractive business model. A decision on this is not expected until after 2020.
The Autonomous Driving Technologies business unit will thus in future comprise automated and autonomous driving as well as all known chassis functions, including those for electronic and hydraulic braking, stability control and chassis control and suspension. The Vehicle Networking Technologies business unit is responsible for the internal networking of a vehicle and its external networking with other vehicles and the transport infrastructure. The details are expected to be worked out and presented by mid-20199.
Continental is the world’s second largest automotive supplier (after Bosch). With some 235.000 employees in more than 60 countries, the company has sales of about €44 billion (about $51 billion).
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