04 Apr 2018
50:50 joint venture expected to begin operations in second half of 2018; sales target in "mid-triple-digit-million-euro" range.
Partners: Osram's Hans-Joachim Schwabe and Continental's Andreas Wolf.
The jv, in which each of the partners has a 50 percent stake, will combine Continental’s and Osram’s respective expertise in lighting, light control and electronics. Leading the joint venture are CEO Dirk Linzmeier from Osram and CFO Harald Renner from Continental.
“Digitalization is creating new possibilities in automotive lighting applications and, in turn, tremendous opportunities that we want to leverage with Continental,” said Hans-Joachim Schwabe, CEO of Osram’s Specialty Lighting division.
“By joining forces, our companies will be in an even better position to drive innovations by working closely with the automotive industry, seamlessly integrating lighting, sensor technology and electronics in a single application.
“This will allow us to advance new intelligent light functions, such as the combination of lighting and sensor technology in a module or light-based communication between the driver, other road users and the vehicle’s surroundings.”
Andreas Wolf, head of Continental’s Body & Security business unit, added, “The joint venture puts us in a position to drive technological change in the automotive lighting market and to develop intelligent lighting solutions by combining our expertise in software and electronics with Osram’s automotive lighting expertise.
"The innovations Osram and Continental bring to this joint venture will allow us to offer our customers an unrivaled and unprecedented portfolio in the lighting market,” he added.
The joint venture will be based within the Munich region, but will operate globally to ensure rapid development cycles with customers in their local areas. The U.S. operations of Osram Continental will be based in Hendersonville, TN. The product portfolio will feature semiconductor-based lighting modules such as LED modules for front and rear headlights, laser modules and light control units.
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