Continental has announced that its powertrain business has become the first part of the group to complete its realignment. The division will now operate as an independent business under the name Vitesco Technologies.
The introduction of this new name is planned for the second half of 2019. The transformation of the division into a largely independent group of legal entities took place at the start of 2019.
The move to transform the Powertrain division into an independent company was prompted by the rapid changes that are expected to occur in the powertrain market over the next few years.
“The pace of regulation varies from one region to another,” noted Andreas Wolf, head of Continental’s powertrain division and Vitesco Technologies CEO. “This calls for a great deal of flexibility on the part of the industry. As an independent company, we have more freedom as a business to react quickly and individually to the many different requirements.”