GERMANY-based Continental expects to increase the share of corporate sales in the Asian market from 18% to more than 30%, with China to drive the growth.
The firm recently appointed Ralf Cramer as President of the company’s organisation in China. Cramer has been a member of Continental’s executive board since August 2009 and head of the Chassis & Safety division since December 2007. “By 2020, China will be the world’s largest market for premium automobiles.
Nowhere in the world will the demand for individual mobility and industrial goods be growing stronger than there. This is why we want to strengthen our local organisation and position ourselves to benefit from fast, profitable and lasting growth in this important market,” said CEO Elmar Degenhart.
He also said that over time, more than eight out of ten of new applications are expected to be developed locally.