In a recent report, Continental announced that it plans to expand its market share for several key products by reducing costs. These products include fuel common rail systems and entry-level ABS (Antilock Braking System).
Dr Ralf Cramer, Chairman of the Executive Board of the Continental Group and Head of the Chassis and Safety Systems Division, said: “We plan to promote our safety system products within the affordable scope of the Asian market. We will cooperate with joint venture partner RicoAuto Industries and work together In addition, our company will also consult with Indian suppliers on the development of low-cost products."
Dr Ralf Cramer also pointed out that by 2015, it is expected that more than half of the world's cars will be produced in Asia. Continental Group expects that by 2015, its sales in the Asian market will account for about one-third of global sales.
The report quoted Helmut Matschi, member of the Executive Board of the Continental Group and President of the Ministry of Internal Affairs, as saying that auto parts companies will focus on the localization of the company in India. Continental will invest approximately 1.5 billion pounds this year.
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