Technology company Continental announced the construction of a new plant in New Braunfels in the US state of Texas. The purpose of the new building is to expand its capacity for the production of radar sensors.
“Advanced driver assistance systems save lives. Continental is one of the world’s market leaders in this area. We are benefiting from steadily increasing fitment rates in new vehicles. And in the future, too, we are anticipating major growth opportunities,” explains Frank Jourdan, member of the Continental Executive Board responsible for the business area ‘Autonomous Mobility and Safety’. “Over the next five years, we are planning further investments in the high triple-digit million Euro range in the areas of assisted and automated driving. The capacity expansion in New Braunfels is part of our growth strategy,” he says. “Between 2015 and 2019, sales more than doubled and we can see good opportunities to expand our market position even further in the future,” explains Jourdan.
For the construction of the new plant in New Braunfels, Texas Continental plans to invest about 100 million Euro over the next three years. The groundbreaking ceremony is planned for mid-2020, before the scheduled production of radar sensors is planned to start in 2021.