Supplier Continental bets on electrification but rejects battery cell production
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Continental, one of Europe's largest automotive suppliers, is increasing e-mobility investments but has decided against entering battery cell production. 鈥淭he future is clearly electric. We are convinced of this,鈥 . The shift is "due to the tightening of political targets that are leading to an increasingly disruptive market in which future technologies are determined by regulations鈥, the company added. At the same time, Continental will cut investments in combustion-engine technology.
Continental's move is "remarkable for the usually conservative company鈥, business daily , pointing out that it headlined its coverage: "Continental says good-bye to the combustion engine." E-mobility news service , however, that contrary to earlier considerations, Continental would not enter into the production of solid-state battery cells. "Following Bosch, another top supplier is thus rejecting the risk of battery cell production," writes Chris Randall.