Continental moving it’s self-driving technology division into a new unit

Continental has announced that it’s board has approved the creation of a unit, dedicated to it’s self-driving and driver-assistance businesses. The new unit, tentatively called ”Autonomous Mobility“ will launch next year and will be focused exclusively on technologies supporting their clients technology needs.

Continental will spinoff it’s driver assistance division into a new unit

By improving it’s ADAS capabilities and providing independence, the new unit hopes to take a sizeable portion of market. According the Nikolai Setzer, CEO “The autonomous mobility market will more than double in the next three years,”.

In step with the move, Continental also announced an additional investment in technologies for assisted and autonomous driving, with an supplementary €200 million to €250 million earmarked for 2021.

Read the Continental press release https://www.continental.com/en/press/press-releases/supervisory-board-meeting-249194