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News from Shanghai says that the global auto parts supplier Continental AG sets its research and development center in Shanghai, China. The research and development center will engage in related new electronics engineering. The location of this center is in Yangpu district, Shanghai.
Continental AG opened a chassis and power train research and development center in Jiading district of Shanghai at the earlier time. Its investment reaches 609 million yuan. Mr. Jay Kunkel, Asia president of Continental AG, says he predicts that a minimum of 25% of global sales will be achieved in Asia by 2013. 40 percent of global auto production will take place in Asia by 2014. Continental AG is intensifying its localization strategy to develop specific products and solutions for the Asian and Chinese markets.