“Supplier Continental reserves more money for e-cars”

German car part supplier Continental increasingly bets on electric engines as an emerging business, Stefan Menzel writes on Handelsblatt Online. “The shift to the e-car will come, it can’t be stopped anymore,” Menzel writes, saying Continental will expand its investments into e-mobility development by about 300 million euros until 2021. Continental hoped to generate a revenue of one billion euros with electric engines by that year, Menzel explains. Continental’s CEO Elmar Degenhart said combustion engines “will continue to play an important role for the next 15 years”, but their relative importance was going to fall every year, Menzel writes.

Read the article in German here.

See the CLEW dossier The Energiewende and German carmakers for background.