Continental's 'Vision 2030' Includes Market Share Growth, Digital Solutions
Market share growth in North America, a focus on digital solutions and development of consumer tires for electric vehicles will be key parts of Continental AG's "Vision 2030" strategy.
"'Vision 2030' is focused on the systematic customer-centric alignment of the organization and all its business activities," Continental AG officials revealed during the company's recent Capital Market Days event.
"In addition, the (company's) tires business area is targeting further profitable growth and, in a fast-changing market environment, aiming to set itself apart from the competition in respect of sustainability and through digital solutions."
Market share growth in North America - as well as Asia - will be top priorities.
In the consumer tire segment, Continental will concentrate "on growing the global business with tires for electric vehicles and ultra-high-performance tires.
"In the truck and bus tire segment, the Conti360° fleet services offering will be a key driver across all regions. At the same time, Continental’s specialty tire business, which covers two-wheeler and race tires, as well as tires for many different industrial applications, is also set for further growth, notably in the agricultural tires segment."
“Excellent tires are and will remain our DNA," said Christian Kotz, head of Continental's tires business. "They have made us one of the world's largest tire manufacturers.
"Now, with our ‘Vision 2030’ strategic program, we are setting the stage to build on what is already a position of strength. Going forward, smart digital tire solutions and the realization of ambitious sustainability goals will be decisive for our success and as differentiators in the marketplace.
“The new ‘Vision 2030’ strategic program underlines our aspiration to systematically align our organization with the development of customer-oriented solutions and to put customer needs at the center of all our activities," he continued.
Continental's previous 'Vision 2025' program resulted in worldwide market share gains for Continental, company officials noted.
"The new strategic program is designed to write the next chapter in this success story," which will include additional development partnerships with what Continental describes as "technology firms.
"Continental will continue to stand for innovative peak performance in tire technology. In the future, this will be complemented by an ever-expanding service offering and aligned even more precisely with the different customer segments."
Sustainability also will be a critical component of the company's plan, moving forward. Earlier this year, all "relevant projects and activities" were brought under Continental's new Sustainability department.
"Efforts here are centered around the strategic topics of climate action, low-emission mobility, the circular economy and sustainable supply chains, thus embracing all phases of the value chain."
Continental officials say the company intends to move to "100% sustainably produced materials" used in the development and production of its tires by the year 2050.