The joint venture, in which Continental holds a 60% stake and CITC a 40% stake, will operate globally and supply customers in China and other Asian markets as well as in Europe and North. The company will be headquartered in Changzhou, with operations scheduled to start in mid-2018. The aim is to establish the joint venture among the leading suppliers in the global market for 48V battery systems.
CITC is part of the Chinese AVIC group and, through its subsidiary CALB (China Aviation Lithium Battery Co., Ltd.), has extensive expertise in the development and production of lithium-ion cells. Through the joint venture, Continental will be able to offer its 48V mild hybrid system, which was launched for the first time at the beginning of 2017, from a single source. The "people’s hybrid" developed by Continental enables a significant reduction of CO2 and pollutant emissions from diesel and gasoline engines at relatively low costs. The joint venture partners expect that as early as 2025, around 14 % of all new vehicles worldwide will be equipped with this mild hybridization.