Continental and CITC with JV for Battery Systems production

The joint venture, in which Continental holds 60 percent and CITC 40 percent of the shares, will operate globally and supply customers in Europe and North America, as well as China and other Asian markets. The planned location of the company’s headquarters is Changzhou, near Shanghai, with operations expected to begin mid-2018. “Entering the 48-volt battery systems business is a strategically important step for Continental, and one that will further strengthen our position as a system provider on the fast-growing mild hybrid market,” said Continental CEO Dr. Elmar Degenhart, as the joint venture was announced. “In CITC we have found a partner whose subsidiary CALB provides the ideal conditions for this joint venture. CITC allows us access to the extremely significant Chinese market. It also has the potential to impose itself on the international competition and to become a global provider in the production of battery cells,” explained Degenhart. “Cooperating with Continental in the 48-volt battery systems business is a significant step for CITC’s strategy, which will enhance its position for high-power lithium ion batteries’ global market expansion,” said Mr. Xiaoqing Shi, Board Chairman and General Manager of CITC, “Continental and CITC are engaging in providing energy-saving and carbon emission reduction battery system solutions to meet the demand of global consumers in energy-efficient vehicles.” The new joint venture will develop and produce a battery platform for all conventional 48-volt topologies (P0, P2, Px) up to 25kW. The battery cells will be provided by CALB, while Continental’s contribution comes in the form of the battery management system including the basic software. The joint venture will integrate the components in the battery systems, carry out customer-specific development work and integrate the systems in vehicles.

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Image: Enno Tang, President and CEO Continental China and Xiaoqing Shi, Board Chairman and General Manager of CITC