Growing Faster with New Mobility Services: Continental Establishes Joint Venture for the Chinese Market
Forceful extension of mobility services initiated
Continental und China Unicom Smart Connection Technology sign a strategic joint venture contract
New Joint Venture will establish and operate a world class Intelligent Transportation Systems (ITS) solution provider to satisfy the increasing market demands of China
As one of the leading experts in vehicle systems and the digitalization of mobility, the technology company Continental is setting its course for accelerated growth in new mobility services. Along the company’s digitalization roadmap, a strategic joint venture contract has been signed together with China Unicom Smart Connection (hereinafter referred to as CUSC), a fully owned subsidiary of China Unicom on the first press day of the Auto Shanghai. The newly formed JV aims to establish and operate as a world class ITS solution provider to satisfy the increasing market demands in China as this is a very important market for ITS.
China is one of the leading and growing markets with regards to mobility services and the connectivity of vehicles with each other and beyond with the traffic infrastructure. “The trend towards digitalization is opening a growing market for mobility services in China for us. We see major opportunities for our accelerated, profitable growth in this market,” said Helmut Matschi, member of the Executive Board and head of the Interior division. “With the JV we will move forward in the area of Mobility Services. Our JV partner China Unicom is one of the top three Mobile carriers in China with a strong automotive experience but as well access to high-potential service market. This is the perfect strategic fit for us.”
Both companies will have equal 50 percent share in the new JV, which will be headquartered in Shanghai. The company - Unicom Continental Intelligent Transportation Technology (Shanghai) Co., Ltd - aims to operate as a world class ITS solution provider to satisfy the increasing market demands in China as already today first ITS orders are coming out of this market. It will focus on vehicle data services and applications, intelligent vehicle applications as well as connected vehicle software and hardware integration solutions. First products which will be offered in the Chinese Market are services from the vAnalytics product family such as Fleet+, a mobility service product providing end to end on-demand car sharing platform for OEMs, and the TSP2.0 telematics service platform product which through embedded hardware and cloud-based backend computing, provides vehicle data driven services for OEMs as well as their partners.
Continental Reifen Deutschland GmbH
Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2016, the corporation generated sales of €40.5 billion with its five divisions, Chassis & Safety, Interior, Powertrain, Tire, and ContiTech. Continental currently employs more than 220,000 people in 56 countries.
Information management in and beyond the vehicle is at the very heart of the Interior division. The product portfolio for different types of vehicles includes: instrument clusters, multifunctional and head-up displays, control units, access control and tire-information systems, radios, infotainment systems, input devices, control panels, climate control units, software, cockpits as well as services and solutions for telematics and Intelligent Transportation Systems. The Interior division employs more than 43,000 people worldwide and generated sales of approximately €8.3 billion in 2016.