Vitesco Technologies, the former Powertrain division of Continental, has announced the signing of an agreement to supply the first fully integrated drive system for several PSA and Hyundai mass production models.
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Parallel to the ongoing preparations for a possible partial IPO of its Powertrain division, Continental is now also considering a possible complete subsidiary of the Powertrain division (in future: Vitesco Technologies) with the subsequent listing on the stock exchange.
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Continental has announced that it intends to focus its drive business more strongly on electrification, but is refraining from earlier considerations of entering into the production of solid-state battery cells.
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Continental has found a name for its powertrain division: Vitesco Technologies. The partial IPO of the motor business unit originally announced for the second half of the year, is not expected to take place until 2020.
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