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Continental Lifts Electric-Car Spend as Combustion Era Peaks – Bloomberg

Electric and hybrid components to get extra investment funds
Spending on tradition technologies will fall ‘step by step’
Continental AG  will scale back investments in traditional motor components and allocate more funds for hybrid and electric powertrains as the auto-parts maker prepares for the eventual decline of combustion engines.

Europe’s second-largest component supplier will invest an additional 300 million euros ($326 million) to develop and expand its offering of electric- and hybrid-car technologies by 2021, the Hanover, Germany-based company said Tuesday in a statement . While Continental won’t entirely abandon fine-tuning traditional motors, it sees electric and hybrid vehicles accounting for 40 percent of the car market by 2025

More www.bloomberg.com/news/articles/2017-04-25/continental-shifts-focus-to-electric-cars-as-combustion-peaks

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