ContiTech, part of Continental AG, and one of the world’s leading industry specialists, is gung ho about India’s growth prospects, and in concurrence, its own growth prospects in the country. India’s GDP growth of ~6%-plus and growth in other macro parameters matches ContiTech’s growth projections, said Philip Nelles, Member of the Continental Executive Board and CEO, ContiTech.
In the past couple of years, the COVID pandemic, shortage of semiconductors and other supply side constraints had a negative impact on ContiTech’s business in Europe, but the Asian and North American markets were largely insulated. Even 2023 is likely to result in a rather conservative volume growth in Europe, Nelles told Mobility Outlook, while Asia and North America are likely to see robust growth.
The company offers surface solutions, artificial leather upholstery solutions for vehicles and also cover interior and exterior home decoration surfaces. ContiTech is now working on battery cooling systems for various customers, and with its material competence, it hopes to fulfil future requirements of green hydrogen as well.
Continental AG has committed to become carbon neutral by 2050, and the over-arching ambition has been defined into four specific goals - to be carbon neutral in all its operations by 2040, to strive for 100% clean and emission free mobility, focus on Circular Economy, and to create a responsible value chain.
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