Auto-parts Supplier to Pursue Expansion Plans
2009-04-14 Source：internet
GERMAN auto-parts supplier Continental AG said it would continue its investment in China as it aims to boost its Asia revenue to account for 25 percent of its global total by 2015, compared to 17 percent last year.
The world's second-largest auto-parts maker yesterday opened a new technology center in Jiading District in northwest Shanghai to conduct system tests for its power train and chassis and safety divisions.
It is part of a US$65-million investment plan in China announced two years ago, which also included a new headquarters in Yangpu District due to open in the third quarter of this year.
By localizing the engineering development, Jay Kunkel, president of Continental Asia, said the move will help Continental attract more Chinese car makers.
The Jiading tech center will be a major engineering base for anti-braking systems and electronic stabilizing control systems. About 200 engineers will be hired by 2011.
Continental yesterday also signed a memorandum of understanding with the district government to relocate a plant in order to expand its production of electronic braking systems in China.
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