Continental renames Automotive division to Aumovio

HANOVER: German automotive parts manufacturer Continental on Tuesday revealed a new name for its Automotive division, ahead of a planned spin-off in September.

In the future, the division, a brake and electronics supplier, will be called Aumovio, the Hanover-based company said at the Auto Shanghai 2025 motor show in China.

"As an independent company, we gain significantly more creative power and speed," said Continental board member and Automotive chief executive Philipp von Hirschheydt in Shanghai.

"We have consistently aligned automotive with future technologies and are picking up on market developments quickly, innovatively and from a strong competitive position," he said.

"This means that we are consistently on our way to becoming an adaptive automotive powerhouse."

Following approval at the annual general meeting on Friday, Continental is planning to spin off the ailing division and list it on the Frankfurt Stock Exchange in September.

Aumovio aims to offer electronics and state-of-the-art mobility solutions for software-based vehicles as well as "safe, exciting, connected and autonomous mobility to a wide range of global customers," according to the company.

"Our aim is to further expand our position in the future fields and growth markets of mobility," said von Hirschheydt.

"This strategy is particularly evident in China. Among other things, we are relying on our strong local presence by producing and developing locally for the Chinese market."

Automotive employs some 10,000 workers in China, the largest automotive market globally, where it generated some 14% of its turnover in the 2024 financial year.

Globally, the division has some 92,000 employees, making up almost half of all Continental workers.

Overall turnover for Automotive stood at some €19.4 billion ($22.09 billion) last year.

The division has been struggling for years, however, and Continental announced its intention to spin off Automotive back in December.

The company also tightened cost-saving measures for the division, with more than 10,000 jobs to be cut in administration, research and development.

Continental also plans to spin off its materials division ContiTech to become a "global company focused on tyres."

Pending a number of agreements, ContiTech could become an independent company some time in 2026.