Picture for representation purpose only.
Due to the rapid change in the mobility landscape, Continental
is putting more focus on the electric future of mobility. To keep pace with the
change, Continental’s Powertrain division will be renamed as Vitesco
Technologies, with Andreas Wolf as CEO. Wolf was earlier the Head of
Continental’s Powertrain division.
“Our customers are increasingly and consistently turning to
the electrification of combustion engines through hybrid drives as well as to
pure battery-powered vehicles. We have long been a technological leader in the
field of electronic control units and related functional software. In keeping
pace with our customers and markets, we are now focusing more rapidly and
systematically on our strengths and are targeting the future of electric
mobility with our broad and successfully applied experience. With this strategy
and gradual optimizations to the portfolio, we aim to ensure that the
powertrain business remains financially strong, competitive and sustainable in
the long term.” said Andreas Wolf.
Combustion-only components, meanwhile, are set to offer only
selective growth opportunities in the future, which has prompted Continental’s
Powertrain division to reduce investment in the hydraulic components business.
This part of the strategy relates primarily to injectors and pumps for gasoline
and diesel engines. This means that existing orders will be fulfilled, but new
orders will play an increasingly marginal role.
“This transformation
phase will likely extend over a number of years, as combustion engines
essentially serve as the basic drives for hybrid solutions,” remarks Wolf,
before adding that the business in components for exhaust-gas aftertreatment
and fuel delivery would also be reviewed. “The main reasons for this are
intense price pressure and a high degree of dependency on the further
development of the diesel engine market. We are currently examining all
possible options here to ensure our portfolio is sustainable, profitable and
competitive. We’re also considering partnerships,” Wolf says.
The Powertrain division is already one of the few providers
capable of supplying complete electrification systems from a single source. The
portfolio includes efficient technologies for 48-volt electrification, electric
motors and power electronics for hybrids and battery-powered all-electric
vehicles, as well as those for fuel-cell vehicles, intelligent energy and
thermal management systems.
“In the medium term, we will make transportation for the
masses even cleaner by offering comprehensive support for mild- and full-hybrid
solutions. The next generation of technology for long-term, CO2-free mobility
is already being developed in our laboratories and workshops. This includes
e-drives as well as technologies for CO2-neutral, hydrogen-based fuels, fuel
cells and synthetic fuels,” Andreas Wolf continues.
Wolf also indicated that Continental will not consider
potentially entering into the production of solid-state battery cells in the
future. Until now, the company was open regarding a potential investment in
this regard. However, Wolf states that the disruptive market no longer offers
any attractive economic prospects for battery cell production for Continental.