Continental splits into three units amid shifts in auto industry

as declared in The Frankfurt-listed maker of tires, powertrains, interior electronics, chassis components and sensors will split into three separate companies under a holding. "Continental Rubber," focused on the traditional tire business, may also seek a stock listing in the future. The third company, "Automotive," will combine traditional auto parts with the autonomous driving components of the future. Continental's announcement follows a general trend in the automotive industry as automakers and suppliers look at decentralizing their integrated operations to adapt more quickly to changes in the industry. Continental's Powertrain business might start producing solid state battery cells, but it will only decide on the potential investment no earlier than 2021.

FG to inject N300bn into auto industry

By Theodore OparaTHE Federal Government plans to inject N300 billion into the nation's vehicle assembly plants as part of measures to accelerate the development of the automotive industry. Already, contributions into a support fund initiated to facilitate the vehicle production finance scheme has risen to N11bn. Aliyu, further said the auto support fund was an indication of the government's resolve to provide the necessary encouragement for the development of the auto sector. "The council has accordingly applied to the Central Bank of Nigeria, CBN, for the proposed entity operating licensee and concessions to attract additional funding from the Development Finance Institutions. On complaints over the high costs of vehicles assembled locally, Aliyu said "All assemblers have been directed to include a low-cost vehicle in the models they roll out.

FG may inject N300bn into auto industry – Punch Newspapers

according to FG may inject N300bn into auto industryRasheed BisiriyuThe Federal Government plans to inject N300bn into the nation's vehicle assembly plants as part of measures to accelerate the development of the automotive industry. Already, contributions into a support fund initiated to facilitate the vehicle production finance scheme have risen to N11bn. Aliyu spoke on 'Achieving 2013-2020 Nigerian Automotive Industry Development Plan under the current regime: How feasible?' at a capacity building workshop for motoring journalists. Aliyu, who was represented by the Director, Special Duties, NADDC, David Oyetunji, said the auto support fund was an indication of the government's resolve to provide the necessary encouragement for the development of the auto sector. "The automotive industry is the cornerstone for establishing a self-sustaining economy and upgrading the standard of living both in the developing and developed economies," he stated.

CU-ICAR partnership with SC auto industry offers model for others, researchers say

CU-ICAR partnership with SC auto industry offers model for others, researchers sayCourtesy photoHaley Walters | The Greenville NewsResearchers are using the Upstate's huge network of automotive groups as an example of economic development done well. It also examined the positive effect of advanced training and industry partnerships offered by Clemson University's International Center for Automotive Research (CU-ICAR). "CU-ICAR is particularly notable for its use of industry-endowed professorships in key technologies related to the automotive industry and its rigorous, applied learning program to train students." Parilla said CU-ICAR offers a model for others around the country of how collaboration between a university, state government and industry can produce a cluster with a competitive advantage. The report is intended to be a guide for regional leaders interested in growing their economies using a cluster-type model.




collected by :Catlin Logan