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Continental Automotive Systems (CAS), founded in 1906 by Alfred Teves, a division of the German Continental AG, was a brake and electronics supplier to the automotive industry, supplying systems, components, electronics, lithium-ion batteries and engineering services for vehicle safety, comfort and powertrain performance. Its sales top €4.6 billion.[citation needed]
It comprises two units:
- Continental Temic — focus is on auto electronics while
- Continental Teves — a developer and manufacturer of hydraulic and electronic brakes and safety systems, and of stability and chassis control systems and electronic air suspension systems.
It supplies lithium-ion batteries for the GM E-Flex System of Chevrolet Volt, from A123Systems.
CAS's acquisition of the Automotive division of Motorola was completed in July 2006. Continental acquired Siemens VDO from Siemens AG in 2007.
In 2019, Continental reorganized the powertrain division into a new entity Vitesco Technologies with intention to spin off,[1] expected to occur in September 2021.[2]
- ^ Cornell, Joe. "Continental AG Intends To Spin Off Vitesco Technologies, Shelves Plans for Partial IPO". Forbes. Retrieved 2021-05-20.
- ^ Schwartz, Jan. "Continental aims for Vitesco spin-off in Sept. 2021". www.nasdaq.com. Reuters. Retrieved 2021-05-20.