The joint venture is headquartered in Munich, Germany, with 16 locations worldwide. It will employ approximately 1,500 employees at the beginning of its establishment. As planned, the company headquarters will be moved to Garching, Germany, as appropriate. The joint venture seeks to reach hundreds of millions of euros. Sales. Continental and Osram Group each hold 50% of the joint venture, and its financial results will be included in the OSRAM Group.
The joint venture plans to grow at a double-digit annual growth rate over the next five years. The high growth rate is based on the strong growth of the LED market and laser-based lighting modules and solutions and related electronics markets. The first batch of products developed is expected to be put into mass production in 2021.
Dirk Linzmeier, CEO of the joint venture company, has high expectations for the joint venture: 'In the past few months, we have developed a series of indicators for the creation of new companies, hoping to rethink the future of automotive lighting through the new company. On these solid foundations, the joint venture will bring a huge boost to the market.'
Harald Renner, chief financial officer and management member of the joint venture company, said: 'The establishment of the joint venture has enhanced our confidence. We believe that the smart car lighting market will continue to grow. In addition, our team is composed of management members and experts of the two companies. This professional team will enhance the company's innovation speed, improve efficiency and strengthen integration. I am looking forward to working with new colleagues to develop exciting products. 'The automotive lighting market is currently in the transition stage to the development of semiconductor-based lighting technology. As the importance and influence of software and electronics grows, Continental and Osram combine their respective strengths in these two areas to develop state-of-the-art headlights for automakers and auto parts suppliers. Modules and rear lighting and interior lighting solutions.
The joint venture takes smart car lighting technology to a whole new level
The joint venture will continue to apply digital technology to its automotive lighting solutions to provide intelligent lighting capabilities for vehicles. The joint venture OSRAM Continental is working to ensure LED technology by combining lighting and smart electronics. Market penetration rate in all automotive segments.
The joint venture not only uses software-based solutions to create configurable light distribution systems, such as anti-glare headlights and high beam, but is also actively developing smart lighting functions. For example, data from navigation systems and sensors, the future Cars equipped with these solutions will be able to send alerts to other road users while driving.
Headquartered in Munich, Germany, OSRAM is a leading global high-tech company with over 110 years of brand history. The company's products are based primarily on semiconductor technology and are used in a wide range of applications. From virtual reality, autonomous driving, smartphones, to architecture and Smart connected lighting solutions in the city are included. OSRAM is always committed to exploring the infinite possibilities of light and leading the good life of mankind. Osram's innovative technology not only meets the lighting needs of people all over the world, but is constantly striving to improve people's Communication, travel, work and life. As of the end of FY2017 (September 30), OSRAM has a global total of approximately 26,400 employees and a revenue of more than 4.1 billion Euros. Osram is listed on the Frankfurt and Munich stock exchanges (ISIN: DE000LED4000) ;WKN: LED 400; transaction code: OSR).
Founded in 1871, the technology company Continental focuses on providing safe, efficient, intelligent and cost-effective solutions for vehicles, machines and transportation. Continental is striving for excellence in cutting-edge technology and service models to achieve connectivity and intelligence. People's travel and cargo transportation make it more green. In 2017, Continental's sales reached 44 billion euros. Currently, the group employs more than 240,000 people in 61 countries and regions.
OSRAM Continental GmbH is a joint venture between the technology company OSRAM Group and Continental, headquartered in Munich, Germany. As a globally operating company, the company combines modern lighting technology with electronics and software to provide the automotive industry with a range of intelligent innovations. Lighting solutions. The OSRAM Group and Continental Group each hold 50% of the joint venture, with 16 locations worldwide and approximately 1,500 employees.