Auto parts manufacturer Continental AG announces transformation to electrification

August 10 news, according to foreign media reports, the world's second largest auto parts manufacturer Continental AG (Continental AG) announced the transformation to electrification, the company will no longer invest in the development of parts for internal combustion engines, but More attention and money is placed on the electric drive system.

Andreas Wolf, head of the Continental Group's powertrain division, said: "With hybrid drives and pure battery-powered vehicles, our customers are increasingly turning to electric engines. Since then, we have been a technology leader in electronic control units and related functional software. To keep pace with our customers and the market, we are focusing more quickly and systematically on our strengths and with our extensive and successful application experience. Targeting the future of electric vehicles. Through this strategy and gradual optimization of our portfolio, our goal is to ensure that the powertrain business remains financially competitive, competitive and sustainable in the long run."

He added: "Obviously, the future is the future of electrification, and we are convinced that the transition phase will almost certainly be characterized by a combination of drive systems. In other words, traditional internal combustion engines will continue to be used for many years - In particular, combined with efficient hybrid technology – will make a significant contribution to reducing emissions.”

Wolff said that the company's transformation may last for several years because the internal combustion engine is basically the basic driving force of hybrid solutions. But the main reason is the excessive price pressure and the high dependence on the further development of the diesel engine market.

“At the moment, we are studying all possible options to ensure that our portfolio is sustainable, profitable and competitive. We are also considering building partnerships,” he said.

The Continental Powertrain division is already one of the few suppliers to offer complete electrification systems from a single source. In the future, it will operate independently under the name of Vitesco Technologies and will be CEO (CEO) by Wolf.

Founded in 1871 in Hannover, Germany, Continental Group's main products include tires, brake systems, body stability control systems, engine injection systems, tachometers and other automotive and transportation parts. The company is making specific choices about the goals it seeks. For example, the company will not consider producing solid-state batteries in the future.

At the beginning of July, Continental said that the company will stop developing internal combustion engines such as gasoline engines and diesel engines by 2030. The company expects that by 2050, the company's new cars will be almost exclusively pure electric vehicles and fuel cell vehicles, so the business will be transformed. In addition, the company predicts that the internal combustion engine, which began development in 2025 and began production in 2030, will be the last generation of internal combustion engines.

The shift to electrification is driven by stricter regulation around the world. Automakers are also following this trend of electrification. In the past two years, Volvo, Volkswagen and other companies have announced plans to increase sales of electric vehicles and are more inclined to electrify in existing automotive portfolios, including hybrid and plug-in hybrids. Or an all-electric car.