Auto provider: Continental needs to announce new division names in China | EUROtoday

The new title of the Continental Auto Zukliefer division is introduced in China. “I can only tell you that we will announce the name at the Auto Shanghai vehicle fair at the end of April. The name, the brand, will also help us to develop their own identity and culture,” mentioned Philipp von Hirschheydt, CEO of the long run impartial firm, in an interview with Welt am Sonntag.

Despite the disaster studies from business, “the best time” for the spin -off of the beforehand “Automotive” division was presently, mentioned von Hirschheydt. “We prepared intensively. As early as 2019, we started the transformation of Continental and adapted our production network.”

“In the past two years, we have initiated more than 200 improvement measures in our administrative and business areas alone to make ourselves fit for the capital market,” he continued.

Last 12 months, orders within the quantity of annual gross sales had been acquired, round 20 billion euros, and somewhat extra anticipated. “However, some orders we expected in 2024 were postponed to 2025. Here, too, we see a certain uncertainty,” mentioned the supervisor.

The dispute with BMW for the prices of a really massive recall final 12 months has apparently not but been settled. Continental had delivered brakes for 1.5 million vehicles from BMW, a few of which didn’t work. An answer was discovered for this, mentioned von Hirschheydt. “Our commitment is to exchange striking brakes. We have formed a provision in the middle double -digit million range.” Everything else is cleared straight with BMW. For the built-in brake system, Conti sees “a high demand”. Two new orders had been not too long ago obtained.

Daniel Zwick is an financial editor and studies on all matters from the auto business.