Continental AG: Difference between revisions

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{{Short description|German multinational automotive component supplier}}

'''Continental AG''' is a manufacturer of [[tire]]s, [[brake]] systems, [[vehicle stability control]] systems, and other automobile parts, based in [[Hanover]], [[Germany]].

{{Use Oxford spelling |date=November 2024}}

{{Use dmy dates |date=May 2023}}

{{Redirect|Continental Tire|the type of tire|Continental tire}}

{{Infobox company

| name = Continental AG

| logo = [[File:Continental logo.svg|frameless|class=skin-invert]]

| image = Continental plant Philipbornstrasse Hanover Germany 04.jpg

| image_caption = [[Headquarters]] in [[Hanover, Germany|Hanover]], Germany

| type = [[Public company|Public]]

| traded_as = {{ubl

|{{FWB|CON}}

|[[DAX]] component

}}

| industry = {{ubl

|[[Automotive industry|Automotive]]

|[[Manufacturing]]

}}

| area_served = Worldwide

| key_people = {{ubl

|[[Wolfgang Reitzle]] ([[chairman]])

|Nikolai Setzer ([[CEO]])

}}

| products = [[Tire]]s, [[brakes|brake systems]], [[powertrain]]s, [[chassis|chassis components]], [[automotive safety]], [[vehicle electronics]]<ref>{{cite web |title=The Automotive Group of Continental AG – Innovations for a Mobile Automotive Future |url=http://www.conti-online.com/www/automotive_de_en/general/about_us/about_us_en.html |website=Continental Automotive |access-date=2024-11-29 }}</ref>{{Failed verification |date=November 2024}}

| owner = [[Schaeffler Group]] (46%)

| subsid = {{ubl

|[[General Tire]]

|[[Continental Automotive Systems]]

|[[Hoosier Racing Tire]]

|[[Matador (company)|Matador]]

|[[Phoenix AG]]

|[[VDO (company)|VDO]]

}}

| revenue = {{decrease}} {{Euro|41.4 billion}}

| revenue_year = 2025

| operating_income = {{increase}} {{Euro|2.7 billion}}

| income_year = 2025

| net_income = {{increase}} {{Euro|1.2 billion}}

| net_income_year = 2025

| assets = {{increase}} {{Euro|42.3 billion}}

| assets_year = 2025

| equity = {{decrease}} {{Euro|12.1 billion}}

| equity_year = 2025

| num_employees = 188,830

| num_employees_year = 2025

| homepage = {{Official URL}}

| foundation = {{start date and age|df=yes|1871|10|8}}

| location_city = [[Hanover, Germany|Hanover]], Germany

| location_country =

| footnotes = <ref>{{cite web |url=https://cdn.continental.com/fileadmin/__imported/sites/corporate/_international/english/hubpages/30_20investors/30_20reports/annual_20reports/downloads/annual_report_2023.pdf |title=Annual Report 2023 |access-date=2024-06-03 |publisher=Continental }}{{date missing |date=November 2024}}</ref>

}}

'''Continental AG''', commonly known as '''Continental''' and colloquially as '''Conti''',<ref>{{cite web |title=Conti will mit neuer Strategie zurück in die Zukunft |url=https://www.ndr.de/nachrichten/niedersachsen/hannover_weser-leinegebiet/Conti-will-mit-neuer-Strategie-zurueck-in-die-Zukunft,continental762.html |date=2020-12-16 |language=de |website=[[Norddeutscher Rundfunk]] |url-status=deviated |archive-url=http://web.archive.org/web/20211008235047/https://www.ndr.de/nachrichten/niedersachsen/hannover_weser-leinegebiet/Conti-will-mit-neuer-Strategie-zurueck-in-die-Zukunft,continental762.html |archive-date=2021-10-08 |access-date=2024-11-29 }}</ref> is a German multinational [[Automotive industry|automotive]] parts manufacturing company. Headquartered in [[Hanover, Lower Saxony]], it is the world's third-[[List of the largest automotive suppliers|largest automotive supplier]] and the fourth-largest tire manufacturer.<ref name="general">{{cite web |url=http://www.conti-online.com/generator/www/com/en/generaltire/automobile/themes/history/ctwl_history_en.html |title=The History of General Tire from 1915 up to now| date=27 January 2005| publisher=General Tire |access-date=2012-05-02 }}</ref>{{Failed verification |date=November 2024}} Continental specializes in [[tire|tires]], [[brakes|brake systems]], [[vehicle electronics]], [[automotive safety]], [[powertrain]], [[chassis|chassis components]], [[tachograph]]s, and other parts for the automotive and transportation industries.

The company is structured into six divisions named ''Chassis and Safety'', ''Powertrain'', ''Interior'', ''Tires'', ''ContiTech'', and ''Advanced Driver Assistance Systems'' (ADAS). It sells tires for automobiles, [[Motorcycle tyre|motorcycles]], and [[Bicycle tire|bicycles]] worldwide under the Continental brand. It also produces and sells other brands with more select distribution, such as Viking (limited global presence),<ref>{{cite web| title=Viking Tyre Global Site|url=https://www.viking-tyres.com/car |access-date=3 December 2018}}</ref> [[General Tire]] (U.S./Canada), [[Gislaved (tires)|Gislaved Tires]] (Canada, Spain, Nordic Markets), Semperit Tyres, [[Barum (company)|Barum]] to serve EU and Russia. Other brands are ''[[Uniroyal]]'' (Europe), Sportiva, Mabor and [[Matador (company)|Matador]]<ref>{{cite web| title=Continental Tire – Tire Brands | url=https://www.continental-tires.com/car/about-us/continental-tires | publisher=Continental AG| access-date=2022-10-19}}</ref> and formerly Sime/Simex tyres (now [[Dunlop Tires|Dunlop Tyres]] Malaysia, Singapore and Brunei).<ref>{{cite web| title=About Dunlop Tyres Malaysia | url=https://www.dunloptyres.com.my/about/ | publisher= Continental AG | access-date=2022-10-19}}</ref> Continental's customers include all major automobile, truck and bus producers, such as [[Volkswagen]], [[Mercedes-Benz Group]], [[BharatBenz]], [[Ford Motor Company|Ford]], [[Volvo]], [[Iveco]], [[Schmitz]], [[Kögel Trailer|Koegel]], [[Freightliner Trucks]], [[BMW]], [[General Motors]], [[Toyota Motor Corporation|Toyota]], [[Honda]], [[Renault]], [[Stellantis]] (ex-[[PSA Group|PSA]]) and [[Porsche]].<ref name="funding">{{cite web | title=Continental General Tire Corp |url=http://www.fundinguniverse.com/company-histories/Continental-General-Tire-Corp-Company-History.html | publisher=Funding Universe |access-date=2012-05-02}}</ref><ref name="costarica"/>

Continental, or '''Conti''' for short, has 69,000 employees and an annual revenue of 11.5 [[billion]] [[euro]]s (2003). The company was founded in [[1871]] as a [[rubber]] manufacturer.

== History ==

[[File:Continental AG global locations.png|thumb|right|Continental AG global operations]]

[[File:Mercedes-Benz SLS AMG (C 197) – Alufelge, 10. August 2011, Düsseldorf.jpg|thumb|right|Continental tires on a [[Mercedes-Benz SLS AMG]]]]

Continental was founded in 1871 as a [[rubber]] manufacturer, {{lang|de|Continental-[[Caoutchouc]] und [[Gutta-percha|Gutta-Percha]] Compagnie}}.<ref name="history">{{cite web |url=http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/history/1871_1921_en.html |title=History 1871 - 1926| publisher=Continental Corporation| access-date=2012-05-02}}</ref> In 1892, Continental began development and production of pneumatic bicycle tires, which was a major success for the brand. In 1904, Continental became the first company in the world to manufacture grooved vehicle tires.<ref>{{cite web |title=History |url=https://www.continental-corporation.com/en-us/company/history |publisher=Continental USA |access-date=1 February 2019 |language=en}}</ref> Another major product Continental invented was a detachable wheel tire that was made for touring vehicles (1905). From about 1910, [[synthetic rubber]] started to play a major role in car tire production, and one of its earliest proponents was chemist Albert Gerlach (1858–1918), member of the executive board.<ref name="sehe22">{{cite Q |Q1576272 |title=Der Continental-Direktor und Kautschuk-Pionier Albert Gerlach |trans-title=The Continental Director and Latex Pioneer Albert Gerlach |first1=Walter |last1=Selke |author1-link=Walter Selke |first2=Christian |last2=Heppner |date=December 2022 |language=de |journal=Hannoversche Geschichtsblätter |volume=76 |pages=141–148 |publisher=Wehrhahn |___location=Hanover |url=https://www.researchgate.net/publication/372141465 |access-date=2024-11-29 }}</ref> In the late 1920s, Continental merged with several other major rubber industry companies to form the largest rubber company in Germany called {{lang|de|Continental Gummi-Werke AG}}.

=== Nazi era ===

When the [[Nazism|Nazis]] came to power in Germany in 1933, all members of the board of management as well as the authorized signatories and directors of the second management level were obliged to join the [[Nazi party]], the works council was purged of "opponents of the regime," and all Jewish members of the supervisory board were forced to resign. As early as the end of 1933, the executive board said Continental was now "a Christian and purely German company".<ref name="ber21" /><ref>{{cite news |title=Continental – Zulieferer für Hitlers Krieg |first=Sven |last=Astheimer |___location=Frankfurt |date=2020-08-26 |language=de |work=[[Frankfurter Allgemeine Zeitung|Frankfurter Allgemeine]] |issn=0174-4909 |url=https://www.faz.net/aktuell/wirtschaft/continental-zulieferer-fuer-hitlers-krieg-16922578.html |access-date=2024-11-29 }}</ref>

As with many other German companies during [[World War II]], Continental used [[slave labor]] provided by the [[Nazi Party]] in their factories in the 1940s at Hannover-Stöcken,<ref>{{Cite web|url=https://www.kz-gedenkstaette-neuengamme.de/en/history/satellite-camps/satellite-camps/hannover-stoecken-continental/|title=Satellite camps|website=kz-gedenkstaette-neuengamme.de|access-date=2019-06-29}}</ref> Hannover-Limmer,<ref>{{Cite web|url=https://www.kz-gedenkstaette-neuengamme.de/en/history/satellite-camps/satellite-camps/hannover-limmer/|title=Satellite camps|website=kz-gedenkstaette-neuengamme.de|access-date=2019-06-29}}</ref> Hannover-Ahlem,<ref>{{Cite web|url=https://www.kz-gedenkstaette-neuengamme.de/en/history/satellite-camps/satellite-camps/hannover-ahlem-a-12/|title=Satellite camps|website=kz-gedenkstaette-neuengamme.de|access-date=2019-06-29}}</ref> and others, all offshoots of the [[Neuengamme concentration camp]].<ref name="erk22">{{cite book |title=Supplier for Hitler's War: The Continental Group during the Nazi period |last=Erker |first=Paul |date=2022-12-05 |publisher=De Gruyter |___location=Oldenburg |isbn=978-3-11-064643-6 |doi=10.1515/9783110646436 |lccn=2022939309 |oclc=1353269763 }}</ref>

=== Post-war ===

Continental teamed up with FATE in 1999 for the production of tires for cars, trucks, and buses in Argentina<ref name=fate>{{cite web| url=http://www.lanacion.com.ar/105917-fate-se-asocio-a-continental| title=Fate se asoció a Continental| date=6 August 1998| publisher=Lanacion.com.ar| access-date=3 April 2012| archive-date=3 February 2016| archive-url=https://web.archive.org/web/20160203150111/http://www.lanacion.com.ar/105917-fate-se-asocio-a-continental| url-status=dead}}</ref> and exportation of the San Fernando plant's production to the rest of South America.<ref>{{cite web|url=https://blogdelasmarcas.blogspot.com/2007/10/historia-de-fate.html |title=Blog de las Marcas: Historia de Fate

|date=23 October 2007

|publisher=Blogdelasmarcas.blogspot.com |access-date=3 April 2012}}</ref>

In 2001, Continental acquired a controlling interest in Temic, [[DaimlerChrysler]]'s automotive-electronics business, which is now part of Continental Automotive Systems. The company also purchased German automotive rubber and plastics company [[Phoenix AG]] in 2004, and the automotive electronics unit of [[Motorola]] in 2006.<ref name=history1997>{{cite web |url=http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/history/1997_2010_en.html| publisher=Continental Corporation| title=History 1997-2010| access-date=2012-05-02}}</ref> Continental acquired [[Siemens VDO]] from [[Siemens|Siemens AG]] in 2007.<ref name="dou07" /> Also in 2007, the company began to construct a plant in Costa Rica to produce powertrain components for North America. The plant was to open in two phases and ultimately employ 550 workers.<ref name="costarica">{{cite web| title=German Autoparts Company Begins Investment in Costa Rica| url=http://insidecostarica.com/business/2007/october/07-10-17.htm| date=17 October 2007| publisher=Inside Costa Rica| access-date=2012-05-02| archive-date=30 June 2007| archive-url=https://archive.today/20070630144007/http://insidecostarica.com/business/2007/october/07-10-17.htm| url-status=dead}}</ref>

In 2008, Continental appeared overextended with its integration of VDO and had since lost almost half of its [[market capitalisation]] when it found itself to be the [[hostile takeover]] target of the family-owned [[Schaeffler Group|Schaeffler AG]].<ref name="Christoph Hammerschmidt">{{cite news|title=Hunter Continental AG now becomes the hunted|url=http://www.eetimes.com/electronics-news/4192627/Hunter-Continental-AG-now-becomes-the-hunted|access-date=6 January 2013|newspaper=[[EE Times]]|date=14 July 2008|author=Christoph Hammerschmidt|agency=[[UBM plc|UBM Tech]]}}</ref> By 2009, Schaeffler successfully installed the head of its motor division at the helm of Continental.<ref name="Schaeffler wins battle on Continental chief" />

Continental was ranked third in global [[OEM]] automotive parts sales in 2012 according to a study sponsored by [[PricewaterhouseCoopers]].<ref>{{cite news|title=Top suppliers|url=https://www.autonews.com/assets/PDF/CA89220617.PDF|access-date=30 March 2016|newspaper=[[Automotive News]]|publisher=[[Crain Communications]]|date=17 June 2013}}</ref> On 6 September 2012, Continental returned to the benchmark [[DAX]] index of 30 selected German [[Blue chip (stock market)|blue chip]] stocks after a 45-month absence.<ref>{{cite news|last=Tschampa|first=Dorothee|title=Continental Back in German DAX After Schaeffler Recovery|url=https://www.bloomberg.com/news/2012-09-05/continental-returns-to-benchmark-dax-after-schaeffler-recovery.html|access-date=3 January 2013|newspaper=[[Bloomberg News]]|publisher=[[Bloomberg L.P.]]|date=6 September 2012}}</ref> IHO Group (investment holding of the Schaeffler family) is the controlling shareholder and currently owns 46% of Continental shares.<ref>{{Cite web|title=Shareholder Structure {{!}} Continental|url=https://www.continental.com/en/investors/shares/shareholder-structure-20190|access-date=2020-06-10|publisher=Continental|language=en}}</ref> In November 2018, Continental purchased [[Kmart Tyre & Auto Service]] in Australia from [[Wesfarmers]] for {{AUD|350{{nbsp}}million|link=yes}}.<ref>{{cite web|url=https://www.news.com.au/finance/business/breaking-news/sale-of-kmart-tyre-and-auto-finalised/news-story/484dda6ecf98e31854e53895df6c24a7|title=Sale of Kmart Tyre and Auto finalised|first=Alex|last=Druce|work=Australian Associated Press|date=1 November 2018|access-date=2 November 2018|archive-date=2 November 2018|archive-url=https://web.archive.org/web/20181102045234/https://www.news.com.au/finance/business/breaking-news/sale-of-kmart-tyre-and-auto-finalised/news-story/484dda6ecf98e31854e53895df6c24a7|url-status=dead}}</ref>

In 2017 Continental signed a partnership to be the [[Tour de France]] official tire sponsor till 2027.<ref>{{cite web | url=https://www.continental-tires.com/car/about-us/media-services/newsroom/2022-06-01-continental-tour-de-france-extend-partnership-2027 | title=Continental and Tour de France Extend Partnership Until 2027 }}</ref>{{Full citation needed |date=November 2024}}

On 13 November 2020, it was announced that Nikolai Setzer would take over as CEO following the short-notice resignation of Elmar Degenhart.<ref name="setzer">{{Cite web |title=Nikolai Setzer appointed CEO of Continental |url=https://www.mes-insights.com/nikolai-setzer-appointed-ceo-of-continental-a-979651/ |website=mes-insights.com |access-date=23 November 2020 |archive-date=29 November 2020 |archive-url=https://web.archive.org/web/20201129224057/https://www.mes-insights.com/nikolai-setzer-appointed-ceo-of-continental-a-979651/ |url-status=dead }}</ref>

In February 2021, Continental announced that it acquired a [[minority interest|minority stake]] in Recogni, a German-U.S. [[startup company|start-up]], to advance its [[self-driving car|autonomous driving technology]]. The start-up is working on a new [[integrated circuit|chip]] architecture for [[object detection|object recognition]] in real time based on [[artificial intelligence]].<ref>{{cite web | url=https://www.reuters.com/article/us-continental-autonomous/continental-invests-in-object-recognition-start-up-idUSKBN2AN0NJ | title=Continental invests in object recognition start-up | work=Reuters | date=23 February 2021|access-date=24 February 2021}}</ref>

In December 2021, as a result of a diplomatic spat between [[Lithuania]] and China over [[Taiwan]] and [[Human rights in China|human rights]], China pressured Continental AG to stop doing business with Lithuania.<ref>{{cite news |last1=Sytas |first1=Andrius |last2=O'Donnell |first2=John |title=China pressures Germany's Continental to cut out Lithuania - sources |url=https://www.reuters.com/world/china/exclusive-china-asks-germanys-continental-cut-out-lithuania-sources-2021-12-17/ |publisher=Reuters |date=17 December 2021 |work=Reuters |access-date=18 December 2021}}</ref><ref>{{cite web |last1=FUKAO |first1=KOSEI |title=China said to arm-twist Continental on Lithuania business |url=https://asia.nikkei.com/Politics/International-relations/China-said-to-arm-twist-Continental-on-Lithuania-business |website=asia.nikkei.com |publisher=Nikkei |access-date=18 December 2021}}</ref>

In April 2022, Continental resumed production of tires in Russia despite [[International sanctions during the Russo-Ukrainian War]] due to [[2022 Russian invasion of Ukraine]].<ref>{{cite news |date=19 April 2022 |title=Conti nimmt die Reifenproduktion in Russland wieder auf |url=https://www.faz.net/aktuell/wirtschaft/continental-nimmt-reifenproduktion-in-russland-wieder-auf-17968104.html |url-access=registration |access-date=19 April 2022 |work=Frankfurter Allgemeine Zeitung|last1=Müßgens |first1=Christian |last2=Wagner |first2=Katharina }}</ref>

In February 2024, Continental AG cut around 7,150 positions in its auto unit.<ref>{{cite news |title=Continental AG to cut 7150 jobs in savings push at AutoUnit |date= |work=Detroit News |url=https://www.detroitnews.com/restricted/?return=https%3A%2F%2Fwww.detroitnews.com%2Fstory%2Fbusiness%2Fautos%2F2024%2F02%2F14%2Fcontinental-ag-to-cut-7150-jobs-in-savings-push-at-auto-unit%2F72595346007%2F |url-access=subscription |access-date=2024-02-14 }}</ref>

== Interior Division ==

The Interior Division is organised under the following five business units:<ref>{{Cite web|url=http://www.continental-automotive.com/www/automotive_de_en/general/interior/business_units/|title=The Business Units – Integrated and specialized|publisher=Continental Automotive|access-date=2016-08-10|url-status=dead|archive-url=https://web.archive.org/web/20160823023325/http://www.continental-automotive.com/www/automotive_de_en/general/interior/business_units/|archive-date=23 August 2016}}</ref>

{{col div}}

* Body & Security

* Commercial Vehicles & Aftermarket

* Infotainment & Connectivity

* Intelligent Transportation Systems

* Instrumentation & Driver HMI

* Autonomous Mobility

{{div end}}

Body & Security is leading the development of [[vehicle electronics]] and cabin control systems,<ref>{{Cite web|url=http://www.continental-automotive.com/www/automotive_de_en/general/interior/business_units/bu_body_security_en.html|title=Body & Security (BS)|publisher=Continental Automotive |access-date=2016-08-31|url-status=dead|archive-url=https://web.archive.org/web/20160915082417/http://www.continental-automotive.com/www/automotive_de_en/general/interior/business_units/bu_body_security_en.html|archive-date=15 September 2016}}</ref> with R&D locations in Germany, United States, China, Singapore, Mexico, India, and many other locations around the world, allowing a global reach to nearly every market region.<ref>{{Cite web|url=http://www.continental-automotive.com/www/automotive_de_en/general/interior/standorte_en.html|title=Our locations – worldwide presence|publisher=Continental Automotive|access-date=2016-08-31|url-status=dead|archive-url=https://web.archive.org/web/20160915102145/http://www.continental-automotive.com/www/automotive_de_en/general/interior/standorte_en.html|archive-date=15 September 2016}}</ref>

== Schaeffler takeover ==

[[File:If only I had a Continental bicycle tire, advertising poster, ca. 1900.jpg|thumb|right|Continental bicycle tire ad, France, {{circa|1900}}]]

When Continental decided to purchase [[ITT Industries]]' brake and chassis business for $1.93 billion in 1998,<ref>{{cite news |url=https://www.nytimes.com/1998/07/28/business/international-business-continental-ag-in-1.93-billion-deal.html |url-access=subscription |title=Continental A.G. in $1.93 Billion Deal |author=Staff writers |date=28 July 1998 |work=[[The New York Times]] |access-date=3 January 2013}}</ref> the head of ITT's brake division, [[Juergen M. Geissinger]], was hired as the CEO of the [[Family business|family-owned]] bearing and auto parts manufacturer [[Schaeffler Group]].<ref>{{cite news |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.WpJblZdoYY |title=Billionaire Schaeffler Shunned School to Lead Company |author=Jann Bettinga and Sheenagh Matthews |date=28 January 2009 |work=[[Bloomberg L.P.]] |access-date=3 January 2013}}</ref>

Ten years later, Geissinger returned to Continental with mother-and-son owners [[Maria-Elisabeth Schaeffler|Maria-Elisabeth]] and [[Georg Schaeffler]] and a [[consortium]] of banks, to buy control of the company.<ref>{{cite web|title=Schaeffler Group seeks strategic shareholding in Continental AG|url=http://www.pressebox.de/pressemitteilung/schaeffler-gruppe/Schaeff...-Group-seeks-strategic-shareholding-in-Continental-AG/boxid/190983|publisher=Schaeffler AG & Co. KG|access-date=7 January 2013|author=Schaeffler AG Press Release|date=16 July 2008}}</ref> Continental appeared to have overextended itself with the acquisition of [[VDO (company)|Siemens' VDO]] automotive unit in 2007 for €11.4 billion<ref name="dou07">{{cite news |title=Continental sets about integrating Siemens VDO |last=Dougherty |first=Carter |date=28 August 2007 |work=New York Times |url=https://www.nytimes.com/2007/08/28/business/worldbusiness/28iht-conti.4.7289761.html |url-access=registration |access-date=2024-11-29 }}</ref> and had lost almost half of its [[market capitalisation]] since.<ref name="Christoph Hammerschmidt"/>

In August 2008 and after a protracted [[Impasse|standoff]], Continental agreed to be taken over by the Schaeffler Group in a deal that valued the company at approximately €12&nbsp;billion.<ref>{{cite news|title=Schaeffler agrees to limit Continental stake|url=http://articles.economictimes.indiatimes.com/2008-08-21/news/28382222_1_schaeffler-kg-continental-ag-manfred-wennemer|archive-url=https://web.archive.org/web/20130618151942/http://articles.economictimes.indiatimes.com/2008-08-21/news/28382222_1_schaeffler-kg-continental-ag-manfred-wennemer|url-status=dead|archive-date=18 June 2013|access-date=6 January 2013|newspaper=[[The Economic Times]]|date=21 August 2008|agency=Bennett, Coleman & Co. Ltd.}}</ref> Schaeffler in return agreed to limit its position to less than 50% for a period of four years and support Continental's ongoing strategy. This arrangement was overseen by former [[German Chancellor]] [[Gerhard Schroeder]].<ref>{{cite web|title=Continental concludes far-reaching Investment Agreement with Schaeffler|url=http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/archive/hidden/takeover_offer/pr_2008_08_21_ar_en.html|publisher=Continental AG|access-date=6 January 2013|date=21 August 2008}}</ref> Continental's CEO {{ill |Manfred Wennemer |de |lt=Manfred Wennemer,|v=sup}} who had opposed Schaeffler's offer, resigned and was succeeded by {{ill |Karl-Thomas Neumann |de }} on 1 September 2008.<ref>{{cite news|last=Schuetze|first=Arno|title=Continental appoints Neumann as new CEO|url=http://www.finanznachrichten.de/ausdruck/2008-08/11587953-update-1-continental-appoints-neumann-as-new-ceo-020.htm|access-date=7 January 2013|newspaper=FinanzNachrichten.de|date=23 August 2008|agency=AFX News}}</ref> Less than one year later, Schaeffler's CEO [[Juergen M. Geissinger|Juergen Geissinger]] succeeded in installing his longtime confidant (and former leader and later head of ITT Teves/Continental Brake and Chassis Division) [[Elmar Degenhart]], the head of his automotive division, as the new chief executive of Continental, ousting Neumann.<ref name="Schaeffler wins battle on Continental chief">{{cite news |title=Schaeffler wins battle on Continental chief |date=2009-08-12 |work=Financial Times |url=http://www.ft.com/intl/cms/s/0/2c42d756-876f-11de-9280-00144feabdc0.html |url-access=subscription |access-date=2024-11-29 }}</ref> At Continental's 2013 [[Annual general meeting|annual shareholder meeting]] Schaeffler gave notice that it will terminate its mutual investment agreement with Continental in May 2014,<ref name="Tire Review">{{cite news|title=Schaeffler Ending Conti Investment Agreement|url=http://www.tirereview.com/Article/113524/schaeffler_ending_conti_investment_agreement.aspx|archive-url=https://archive.today/20130719051605/http://www.tirereview.com/Article/113524/schaeffler_ending_conti_investment_agreement.aspx|url-status=dead|archive-date=19 July 2013|access-date=4 July 2013|newspaper=Tire Review|publisher=Babcox Media|date=14 May 2013}}</ref> on which Elmar Degenhart commented, "Notice of termination of the investment agreement is understandable from the vantage point of Schaeffler, our anchor shareholder. We are confident that the two companies will continue their very good and goal-oriented cooperation on into the future."<ref name="Tire Review"/>

== Continental Tire the Americas, LLC ==

Continental Tire entered the North American tire industry with its 1987 purchase of [[General Tire]] from [[Aerojet Rocketdyne Holdings|GenCorp, Inc.]], forming Continental General Tire Corp. <ref>{{cite web|url=http://www.referenceforbusiness.com/history2/72/Continental-General-Tire-Corp.html|title=Company Profile, Information, Business Description, and History|publisher=Continental Corporation|access-date=2012-05-02}}</ref> At the time, Continental was following other tire manufacturers, such as [[Bridgestone]] and [[Michelin]], into the American tire market.

The [[headquarters]] for North and South American tire divisions is located in the [[Charlotte metropolitan area]] at [[Lancaster County, South Carolina]], [[United States]] (with a [[Fort Mill, South Carolina]] mailing address). The North American headquarters of the CAS division is located in [[Auburn Hills, Michigan]], directly east of the [[Great Lakes Crossing]] Mall. Continental also has a research and development arm in the tech-heavy Silicon Valley, where, among other things, the company focuses on developing technologies supporting autonomous driving vehicles.

From 2002 through 2005, the subsidiary sponsored a new [[college football]] [[bowl game]] in [[Charlotte, North Carolina]], known for three playings as the [[Continental Tire Bowl]] at [[Bank of America Stadium]]. At the time, Continental was a major employer in Charlotte. However, as financial woes set in at the division [[Meineke Car Care Center]] took over sponsorship of the Charlotte bowl game from Continental. The first two Continental Tire Bowls were both won by [[Virginia Cavaliers football|Virginia]]; the third and final (by that name) edition of the bowl was won by [[Boston College Eagles football|Boston College]].

The subsidiary announced that effective 1 January 2006, it would implement massive cuts on health care for retirees across the country. After a class-action lawsuit, the company and [[United Steelworkers]] union, representing the retirees, agreed to a settlement whereby the company would continue to fund benefits.<ref name="USW">{{cite press release| title=USW Lawsuit Results in Continental Tire Agreeing to Provide Retiree Health Care| url=https://www.reuters.com/article/2008/04/16/idUS157159+16-Apr-2008+PRN20080416| date=16 April 2008| publisher=Reuters.com| access-date=2012-05-02| url-status=dead| archive-url=https://web.archive.org/web/20130705074234/http://www.reuters.com/article/2008/04/16/idUS157159+16-Apr-2008+PRN20080416| archive-date=5 July 2013}}</ref> Later that year, it announced it would cease tire production in Charlotte<ref name=charlotte>{{cite news| url=http://charlotte.bizjournals.com/charlotte/stories/2006/03/06/daily39.html| first=Roberta| last=Fuchs| title=Continental may halt production, lay off 478| date=10 March 2006| work=Charlotte Business Journal| publisher=bizjournals.com| access-date=2012-05-02}}</ref> and would close its tire production plant in [[Mayfield, Kentucky]].<ref name=kentucky>{{cite news| url=http://charlotte.bizjournals.com/charlotte/stories/2006/07/31/daily31.html| title=Continental Tire to close Kentucky plant | date=2 August 2006| work=[[Charlotte Business Journal]]| publisher=bizjournals.com| access-date=2012-05-02}}</ref>

In 2011, CTA announced that it would build a plant in [[Sumter, South Carolina]]. The plant will cost about $500 million and employ 1,600 workers by 2020.<ref name="reuters">{{cite news| title=Continental to build tire plant in S. Carolina| url=https://www.reuters.com/article/continental-plant-idUSN1E79519420111006| date=6 October 2011| work=[[Reuters]]| access-date=2012-05-02| first=Bernie| last=Woodall}}</ref>

In February 2016, CTA announced that it would build a Commercial Tire plant in [[Clinton, Mississippi]], with an investment totaling approximately $1.4 billion and employing 2,500 people when the plant reaches full capacity in the next decade.{{citation needed|date=December 2020}}

In October 2016, CTA purchased [[Hoosier Racing Tire]].

== Automotive electrical-energy storage systems ==

Continental was one of the companies bidding to work with [[General Motors]] to provide the battery pack for the [[Chevrolet Volt]] extended-range [[electric vehicle]] (E-REV).<ref name="The Auto Writer">{{cite news| last1=Green| first1=Jeff| last2=Ortolani| first2=Alex| title=GM to Build Michigan Plant to Supply Volt Batteries | date=12 January 2009| publisher=Bloomberg.com| url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRi97bIPmu3w&refer=us| access-date=2012-05-02}}</ref> It is the primary contractor for a system using [[lithium-ion]] [[Battery (electricity)|batteries]] from [[A123 Systems]]. General Motors instead signed a contract to assemble packs with cells purchased from [[Compact Power]].<ref name="Compact Power Press Release">{{cite news| title=LG Chem sees more battery orders for GM's Volt in 2011| first=Hyunjoo| last=Jin| publisher=Reuters.com| date=14 November 2010| url=http://uk.reuters.com/article/retire-us-lg-battery-idUKTRE6AD00220101114| work=[[Reuters]]| access-date =2 May 2012}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}</ref>

Continental continues to look at developments and innovation in the field of Automotive electrical-energy storage systems. These include developing solutions for gasoline and diesel driven engines as well as the rapidly-developing area of electrified systems. By offering a comprehensive technology toolkit to auto manufacturers, they enable these manufacturers to develop customised electrification in their vehicles, resulting in more efficient systems that produce lower emissions.<ref>{{Cite web|url=https://www.continental.com/en/products-and-innovation/innovation/electric-mobility/electric-mobility-10576|title=Electric Mobility|publisher=Continental|access-date=17 November 2020}}</ref>

== Automotive PACE Awards ==

In April 2016, Continental AG together with [[Honda]]'s U.S. subsidiary, were honored with the 2016 Automotive News PACE Innovation Partnership Award<ref>{{Cite web|url=http://www.autonews.com/Assets/html/pace_award/winners/2016_honda_r-d_americas_and_continental.html|title=Automotive News PACE Awards|website=Automotive News|access-date=2016-09-11}}</ref> for the Bidirectional Long Range Communications (BLRC) System, developed by the Body and Security Team in the Interior Division.<ref>{{Cite web|url=http://www.continental-corporation.com/www/pressportal_us_en/themes/press-releases-us/3_automotive_group/pr_2016_04_12_pace_partnership_award.html|title=Honda and Continental Honored with 2016 Automotive News PACE Innovation Partnership Award|publisher=Continental Corporation |access-date=2016-09-11}}</ref> The [[Radio-frequency engineering|Radio Frequency Device]], helps the car user to operate a remote control key fob from more than half a kilometer away, to start the engine and climate control function, while receiving feedback from the vehicle (such as locked/unlocked). The [[Radio Frequency Systems|Radio Frequency System]], powered by a single standard coin cell, and an innovative vehicle-mounted RF [[transceiver]], was developed together by Honda and Continental, and was debuted on the [[Acura MDX]] in 2013 and was quickly followed by the [[Acura TLX]] and [[Acura RLX]] in 2014.

In 2015, Continental AG was honored with two PACE Awards for its Bare Die High-Density-Interconnect (BD-HDI) [[Printed circuit board|Printed Circuit Board]] Substrate Technology for Transmission Electronics<ref>{{Cite web|url=http://www.autonews.com/Assets/html/pace_award/winners/2015_continental_automotive_circuit_board_substrate.html|title=Automotive News PACE Awards|website=Automotive News|access-date=2016-09-11}}</ref> and its Multi-application Unified Sensor Element (MUSE).<ref>{{Cite web|url=http://www.autonews.com/Assets/html/pace_award/winners/2015_continental_automotive_muse.html|title=Automotive News PACE Awards|website=Automotive News|access-date=2016-09-11}}</ref> In 2018, Continental won a PACE (Premier Automotive Suppliers' Contribution to Excellence) Award for its Digital Micromirror Head-Up Display technology. Along with [[Audi]], Continental also received an Innovation Partnership Award for their Safety Domain Control Unit (SDCU).<ref>{{Cite web|url=https://markets.businessinsider.com/news/stocks/continental-wins-2018-automotive-news-pace-and-innovation-partnership-awards-1021055215|title=Continental Wins 2018 Automotive News PACE and Innovation Partnership Awards &#124; Markets Insider|website=markets.businessinsider.com|access-date=17 November 2020}}</ref>

In 2020, Continental won an inaugural PACEpilot award for its Virtual A-Pillar technology that helps to eliminate forward blind spots. PACEpilot is an offshoot of the long-standing PACE awards, and the programmes seeks to recognise innovations in automative technology that have moved to the working model phase of testing.<ref>{{Cite web|url=https://www.continental.com/en-us/press-/press-releases/pacepilot-award-220112|title=Continental's Virtual A-Pillar Honored in First Automotive News PACEpilot Award Program|work=Continental USA |access-date=17 November 2020}}</ref>

==Executive management==

===Chief Executive Officer===

* 1973–1982: [[Carl Hahn]]

* 1991–1999: [[:de:Hubertus von Grünberg|Hubertus von Grünberg]]

* 1999–2001: Stephan Kessel

* 2001–2008: [[:de:Manfred Wennemer|Manfred Wennemer]]

* 2008–2009: [[:de:Karl-Thomas Neumann|Karl-Thomas Neumann]]

* 2009–30 November 2020: [[:de:Elmar Degenhart|Elmar Degenhart]]<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2020-10-29/continental-said-nearing-decision-to-replace-ceo-with-unit-head|title=Continental CEO Degenhart to Resign, Citing Health Reasons|date=29 October 2020|newspaper=Bloomberg |access-date=17 November 2020}}</ref>

* 1 December 2020–present: Nikolai Setzer<ref name="setzer"/>

===Chairman of the Board===

* Unknown–1989: [[Alfred Herrhausen]]

* 1999–2009: [[:de:Hubertus von Grünberg|Hubertus von Grünberg]]

* 2009–2009: Rolf Koerfer (6 March–28 September)

* 2009–present: [[Wolfgang Reitzle]]

===Supervisory board===

* Werner Bischoff*

* Michael Deister

* Gunter Dunkel

* Hans Fischl*

* [[Juergen M. Geissinger]]

* [[Hans-Olaf Henkel]]

* Michael Iglhaut*

* Jörg Köhlinger*

* [[:de:Klaus Mangold|Klaus Mangold]]

* [[:de:Hartmut Meine|Hartmut Meine]]*

* Dirk Nordmann*

* Artur Otto•

* [[Wolfgang Reitzle]] (Chairman)

* Klaus Rosenfeld

* [[Georg Schaeffler|Georg F. W. Schaeffler]]

* [[Maria-Elisabeth Schaeffler]]

* Jörg Schönfelder*

* Bernd W. Voss

* [[:de:Siegfried Wolf|Siegfried Wolf]]

* Erwin Wörle*

* Aydin Aliyev*

* Tural Omarov*

'*' Denotes labor representative<ref>{{cite web|title=Supervisory Board / Committees|url=http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/exec_sup/super/supervisory_tabelle_en.html|publisher=Continental AG|access-date=4 January 2013}}</ref>

== Acquisition of Veyance Technologies, Inc. ==

Continental AG has acquired the American rubber company Veyance Technologies, Inc. based in [[Fairlawn, Ohio]]. Veyance will be integrated into the company's ContiTech division, and will serve as the regional home office for ContiTech in North America.

The Brazilian [[antitrust]] authority Council for Economic Defence (CADE) made it official on 29 January 2015, described in a press release on the 30th, from the company. The total transition was $1.6 billion. The company will divest Veyance's [[NAFTA]] air springs business in Mexico and its Brazilian steel-cord belting business in response to some of the concerns raised by antitrust authorities, the release said, employing about 600 people work in those operations.<ref>{{cite web|last1=McAfferty|first1=Rachel Abbey|title=Continental AG closes $1.6 billion acquisition of Fairlawn-based Veyance Technologies Inc.|url=http://www.crainscleveland.com/article/20150130/FREE/150139982/continental-ag-closes-1-6-billion-acquisition-of-fairlawn-based|website=crainscleveland.com|date=30 January 2015 |publisher=Cleveland Business|access-date=27 February 2015}}</ref>

== See also ==

* [[Continental Automotive Systems]] – one of the five divisions

* [[Hoosier Racing Tire]] – part of the racing tire division

* [[Vitesco Technologies]]

==References==

{{reflist |30em |refs=

<ref name="ber21">{{cite news |title="Wenn sie tot sind, gibt es neue" |trans-title='When they're dead, there'll be new ones' |last=Berger |first=Axel |date=2021-02-19 |language=de |work=[[Neues Deutschland]] |url=https://www.nd-aktuell.de/artikel/1148541.ns-aufarbeitung-wenn-sie-tot-sind-gibt-es-neue.html |archive-url=https://web.archive.org/web/20220224051824/https://www.nd-aktuell.de/artikel/1148541.ns-aufarbeitung-wenn-sie-tot-sind-gibt-es-neue.html |archive-date=2022-02-24 |access-date=2022-02-24 |quote=Nicht nur seien sofort danach »sämtliche Vorstandskollegen sowie die Prokuristen beziehungsweise Direktoren der zweiten Führungsebene zum sofortigen Eintritt in die NSDAP« verpflichtet, der Betriebsrat von »Regimegegnern« gesäubert und in den ersten beiden Jahren etwa eine Million Reichsmark an diverse NS-Organisationen gespendet, sondern auch alle jüdischen Aufsichtsratsmitglieder zum Rücktritt gezwungen worden. Stolz konnte der Vorstand bereits Ende 1933 verkünden, Continental sei nun »ein christliches und rein deutsches Unternehmen«. }}</ref>

}}

==External links==

* {{official website}}

* [http://www.conti-online.com/ Official site]

* {{PM20|FID=co/042042|TEXT=Documents and clippings about|NAME=}}

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