Continental highlights innovation & growth at 2024 AGM

Chief executive officer Nikolai Setzer set the tone for Continental’s future during the 2024 Annual Shareholders’ Meeting last Friday, emphasising the company’s pivotal role in advancing mobility technology. This year’s meeting marked a return to in-person gatherings after a five-year hiatus, with a simultaneous live stream for broader accessibility.

Setzer kicked off the meeting by spotlighting Continental’s partnership with Aurora, a collaboration aimed at pioneering the world’s first commercially scalable autonomous trucking system. He celebrated the transition of this ambitious project from mere conception to tangible reality, noting the completion of system design and architecture. With production slated for 2027, Setzer highlighted the presence of Aurora-operated trucks on US highways, marking a significant step toward full autonomy in the near future.

As a key supplier to the autonomous trucking venture, Continental showcased its expertise in sensor technology, integrating radar, lidar systems, and cameras into a unified, intelligent system. Additionally, the company provides a comprehensive fallback mechanism, ensuring seamless vehicle control in the event of autonomous system failures. Setzer emphasised the transformative business model introduced by Continental and Aurora, wherein customers pay per kilometre driven rather than for individual components, signalling a paradigm shift in value creation.

Reflecting on Continental’s more than 55 years of history in driverless vehicle development, Setzer highlighted efforts dating back to 1968. The chief executive officer underscored the significance of ongoing testing initiatives, including milestone achievements such as the millionth test run at the Automated Indoor Braking Analyzer (AIBA) facility earlier in 2024.

Diverse portfolio

Despite facing headwinds at the onset of the year, Setzer reassured shareholders of Continental’s resilience and strategic direction. Amid geopolitical uncertainties and supply chain disruptions exacerbated by global events, he maintained a positive outlook for 2024, reaffirming the company’s commitment to outpacing market growth.

Setzer elucidated Continental’s holistic approach to growth, anchored in a diverse portfolio spanning automotive, tyres, and material technology sectors. Emphasising the integration of hardware and software solutions, he positioned Continental as a leader in delivering comprehensive automotive solutions tailored to evolving customer preferences.

“For us, it’s not about hardware or software. It’s about hardware plus software. And almost no other supplier can offer a broader portfolio here than us,” Setzer emphasised. “We’re well positioned in future technologies, which play a crucial role in customers’ purchasing decisions.”

Transformation & innovation

Continental’s dedication to innovation and transformation was exemplified by recent initiatives such as the TechCenter in Hamburg, dedicated to advancing hydrogen-related technologies. Setzer stressed the company’s proactive stance in seizing present opportunities while simultaneously preparing for future growth. “With our TechCenter, we’re creating a platform to bring innovations to market even faster,” commented Setzer.

Underpinning Continental’s vision is a steadfast commitment to sustainability, evident in their efforts to develop eco-friendly products and reduce carbon emissions. Setzer underscored the role of technological innovation in driving sustainability, calling for supportive frameworks to nurture such advancements. “In many areas, we’re not waiting for future growth, but seizing the opportunity to create value now.”

As the meeting concluded, Setzer reiterated Continental’s dedication to responsible business practices, from fostering innovation to enhancing digital security. The company’s ongoing pursuit of sustainability and technological excellence underscores its enduring commitment to shaping a safer, smarter, and more sustainable future for mobility.