OSRAM And Continental Group Create A Joint Venture To Promote The Transformation Of Lighting Technology
Continental AG and OSRAM Group have agreed to establish a joint venture company to produce lighting modules. Each party holds half of the shares.
The joint venture Osram Continental, headquartered in Munich, will be launched in the second half of this year and will involve approximately 1,500 employees.
Its product portfolio will use semiconductor-based lighting modules such as front and rear LED modules, laser modules, and light control units.
According to Hans-Joachim Schwabe, CEO of OSRAM Special Lighting Division, the joint venture will be dedicated to advancing new smart lighting functions, such as integrating lighting and sensor technology into one module for drivers, other road users and Optical communication between the surroundings of the vehicle.
Dirk Linzmeier of OSRAM will be the CEO of the joint venture, and Harald Renner of the Continental Group will be the chief financial officer.
Andreas Wolf, head of the Continental Group's body and safety business unit, said: “We hope to actively promote technological changes in the automotive lighting market and develop newer, smarter lighting solutions. The joint venture will use Continental’s digitization in automotive lighting applications. technology."