Continental's 2024 Annual Shareholders' Meeting 'We're on the Move. And We're Moving the World of Mobility Forward'

"We're on the move. And we're moving the world of mobility forward." During his speech at today's Annual Shareholders' Meeting, Continental CEO Nikolai Setzer emphasized the technology company's dynamic role. The meeting was held in person for the first time in five years and was also streamed live.
Setzer began by looking at the progress made in Continental's partnership with Aurora to develop the world's first commercially scalable autonomous trucking system. "For a long time it was just an idea, then it was a plan now it's a reality: autonomous trucks." The two partners have already defined the design and finalized the architecture of the system. Production is planned for 2027. Trucks operated by Aurora are already on public highways in the USA - still with a driver at the wheel as a precaution. In just a few years, they will be completely autonomous.
Continental supplies multiple components, including sensors - such as radar and lidar systems - and cameras. It combines all these into one smart system. Continental also provides the entire fallback system, whose software takes control of the vehicle should the autonomous driving system fail. The CEO emphasized that Continental and Aurora have opened the door to an attractive business model with their project. Customers of the autonomous trucking system will no longer pay for individual components, but rather for each kilometer driven. "In short, the new way of driving on the roads will change how we create value," Setzer explained.
He pointed out that Continental brings more than 55 years of expertise in driverless vehicles to the partnership. In 1968, the first electronically controlled, driverless test vehicle took to the test track at the Contidrom. The technology company still carries out automated and autonomous driving and tire brake tests there today. At the beginning of 2024, Continental celebrated its millionth test run on the one-of-a-kind tire braking test facility AIBA (Automated Indoor Braking Analyzer).
On course for growth despite headwinds
Setzer underlined that, despite a sluggish start to this year, Continental is on the right track. The mobility and material technology group for safe, smart and sustainable solutions has repositioned itself, is following a clear plan and is rigorously implementing the goals it has set itself with a clear focus on value creation. "Our past accomplishments give us a great foundation to build on, because we've become more robust," Setzer explained. Setzer expects the geopolitical and economic environment to remain difficult due to the war in Ukraine, ongoing strained supply chains and low growth at best in global automotive production. Despite all this, the CEO remains confident, confirming the outlook for 2024: "We want to continue to grow at Continental. And at a faster pace than the market."
Portfolio for safety, comfort and convenience, and sustainability
The key to success is a forward-looking portfolio comprising products and solutions from all three group sectors. In Automotive, the focus is on value-creating business areas with high growth in which Continental can make use of its system expertise in other words, its knowledge of how innovative components and smart software can be combined in the best possible way. "For us, it's not about hardware or software. It's about hardware plus software. And almost no other supplier can offer a broader portfolio here than us," Setzer emphasized, pointing out that four out of five new cars worldwide are equipped with hardware and software solutions from Continental. "We're well positioned in future technologies, which play a crucial role in customers' purchasing decisions.�
"
In addition, Continental offers the market a range of products and services that includes innovative technologies for greater safety, comfort and convenience, and sustainability. In Tires, for instance, the company is setting new standards in the industry with its PremiumContact 7 model, for example. This is why, in 2023, the world's 10 highest-volume manufacturers of electric vehicles trusted in and used Continental tires. Overall, automotive manufacturers worldwide have already issued more than 500 original equipment approvals for their fully electric models. In ContiTech, the group sector for material solutions made from rubber and plastics, Continental will be sharpening its focus on the industrial business.
Transformation and innovation go hand in hand
Setzer explained that diversity and independence, specialization and cooperation, and transformation and innovation go hand in hand at Continental. One of the most recent examples of demonstrating courage to forge new paths is the TechCenter in Hamburg, which opened in summer 2023. From there, Continental coordinates its global activities relating to its use of hydrogen. This energy source is becoming increasingly important in the industry and places high demands on materials. "With our TechCenter, we're creating a platform to bring innovations to market even faster," Setzer explained.

Company :-PRHUB

User :- Lochan

Email :-lochan@prhub.com

Phone :-08022483008

Mobile:- 08022483007

Url :- https://www.prhub.com/