HANOVER, Germany — Looking to build on its growth of the past five years, Continental A.G. has crafted a business strategy for the coming years that will leverage digital tire solutions and ambitious sustainability goals to achieve further market-share gains and differentiate its products from the competition.
In particular, the tires business area is looking to expand its share of the growing markets of Asia and North America, Conti said, while at the same time investing heavily in research and development of new technologies, alternative materials and green production to make its tires more energy-saving and environmentally friendly.
Under the latest strategy, dubbed Vision 2030 and unveiled during a week-long capital market days event, Conti plans to modify its tire production gradually so that it uses up to 100% sustainable materials by 2050.
"Excellent tires are and will remain our DNA," Christian Kötz, head of the tires business area and a member of Conti's executive board, said.
"Now, with our 'Vision 2030' strategic program, we are setting the stage to build on what is already a position of strength. Going forward, smart digital tire solutions and the realization of ambitious sustainability goals will be decisive for our success and as differentiators in the marketplace."
With 2019 tire-related sales of $11.3 billion, Conti is the fourth largest tire maker worldwide. It claims to be No. 3 in the passenger/light truck area.