Continental to drive ahead with China via more local value creation
German mobility firm Continental is celebrating its 150th anniversary this year and in China, it held events throughout the year to stress its commitment to the market and its ambition of further development.
To be a highlight, it presented a TED-like show last month, inviting senior executives of each of its business units to share their insights and vision of a life with better mobility.
"At a critical point of industrial transformation, our company will continue the strategy of localization and sustainable development," said Tang En, president and CEO of Continental China. "We will strengthen partnership with local firms and respond quickly to the changes in China."
Entering the Chinese market in 1994, Continental has been an active innovator in the market. It was the first to introduce the ABS (antilock brake system) to China in 1996, while in 2009 it developed BCM (body-control module) technology in China and applied it here first.
Earlier this year, Continental set up a development center for software and systems in Chongqing and announced partnership with a slew of domestic companies, demonstrating its commitment to localization and the importance of the market.
"We are programming our organization for increased growth in China as the world's largest automotive market," said Continental CEO Nikolai Setzer.
"The key to success in China is local value creation, which we are constantly increasing. Roughly one in 10 Continental employees currently works in China," Setzer said.