Continental, one of the largest tire and automotive technology suppliers in the world, is celebrating its 150th year in business in 2021. The company was founded in Hannover, Germany, in 1871. Over the next 15 decades, Continental transformed from a local manufacturer of tires and soft rubber products to an international technology company.
Today, Continental has nearly 15,000 employees in the United States. Worldwide, three out of every four vehicles on the road are equipped with the company’s tires or automotive technologies. An estimated one billion people place their trust in Continental every day.
Throughout this year, Continental will celebrate the company’s esteemed history with stories on how it became a driving force of technological progress. Before cars were even invented, the company began by manufacturing horse “hoof buffers” along with solid tires for carriages and bicycles. In 1904, Continental was the first company in the world to develop automobile tires with a patterned tread, and four years later invented the detachable rim. On the year of its 50th anniversary, in 1921, Continental produced its first commercial truck tires, and became the first German company to produce tires reinforced with pliable cords rather than linen fabric. Six years later, it launched the very first pneumatic tractor tire in Europe.
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Continental is expanding its General Tire portfolio for the earthmoving industry with the General TE95 tire. The tire impresses with high traction, especially for soil compaction work in road and construction applications, and, like the entire product line, is equipped with V.ply technology. With this expansion, the General Tire tire portfolio grows to a total of 18 tire specifications for the earthmoving industry. The first General Tire earthmoving tires were launched in early 2020 – the portfolio now includes a total of 14 sizes, which are used on wheel loaders and dozers as well as on dump trucks and scrapers.
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A KPMG reasonable assurance report has revealed that Continental achieved its target of using 100% green electricity in its production processes in 2020. Last year, the manufacturer purchased four million MWh of green energy, and reduced its direct and indirect global CO2 emissions by 70%, down from 3.2 million metric tons in 2019 to 0.99 million metric tons in 2020. Continental says that several forms of renewable energy were used to help reach the target, including water, sun and wind.
“Sustainable business is the future. With our ambitious goals, we are decisively pursuing the transformation to a sustainable economy,” commented Ariane Reinhart, the Continental executive board member responsible for sustainability. “We are delighted by this objective validation of our work. The result of the audit shows that we take our sustainability ambitions seriously and are meeting the targets we have set ourselves.”
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Continental, the leading technology company and premier tire manufacturer, announced the appointment of Ryal Siem as Plant Manager of Continental’s plant in Clinton, Mississippi. Siem takes over the reins from Michael Egner who will move on to a new role at Continental’s Headquarters in Hanover, Germany.
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The Executive Board of Continental AG has decided today on the following parameters for the outlook for fiscal 2021, some of which are below current average analyst expectations.
The outlook assumes the following:
· Based on the currently foreseeable effects related to the ongoing COVID-19 pandemic as well as ongoing supply chain constraints related to semiconductor components, Continental expects that global light vehicle production in fiscal 2021 will increase by 9% to 12% versus fiscal 2020. It also assumes exchange rates throughout fiscal 2021 do not materially differ to those as at the beginning of the year.
· The outlook assumes Powertrain Technologies remains fully consolidated for the entire year. Depending on developments related to the planned spin-off of Vitesco Technologies in the second half of fiscal 2021, Continental will adjust the outlook.
The aforementioned factors result in…
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BERLIN (Reuters) – German automotive parts maker Continental AG said on Tuesday it had acquired a minority stake in German-U.S. start-up Recogni, as it deepens its expertise in autonomous driving technology.
The start-up is working on a new chip architecture for object recognition in real time based on artificial intelligence, Continental said, adding that it expects chip architecture rollout production in 2026.
Financial details were not disclosed.
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Hanover, January 18, 2021. Continental expands the digital online dealer portal ContiOnlineContact. The portal now lists the entire Off-The-Road (OTR) and agricultural tire portfolio. This enables dealers and customers from the agricultural, industrial, earthmoving, port and airport sectors, among others, to order tires flexibly and on demand. With the expansion of the dealer portal to include OTR and agricultural tires, service performance will be continuously improved and tire ordering will be catering to the individual needs of the customers. The new products are available both as ad-hoc orders with delivery directly from the regional warehouses and as direct shipments from the factories.
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FRANKFURT — Continental seeks to grow faster than its automotive peers and roughly triple profitability as the supplier pushes through a deep restructuring under new CEO Nikolai Setzer. Continental is targeting an 8 percent to 11 percent adjusted earnings before interest and taxes margin in the medium term, the German supplier said Wednesday, up from its forecast for about 3 percent this year. It may buy companies, sell businesses and strike partnerships to achieve its goals.
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Continental, one of the world’s largest car suppliers, has warned the transition to electric vehicles is happening too rapidly and at the expense of people’s livelihoods. Ariane Reinhart, the German group’s head of human resources, told the Financial Times that environmental regulations, although necessary, were coming so fast “we cannot compensate for it in terms of employment”.
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Continental earned the 2020 Automotive Communications Award for the advertising program featuring its new Autodiagnos Automotive Diagnostic System and Autodiagnos TPMS Service Tools.
The award was presented during the 2020 Virtual AAPEX Experience tradeshow by Women in Auto Care, part of the Auto Care Association, for the Best Ad Campaign to the Distribution and Retail Audience.
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