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An Old-School Auto Supplier Is Betting on an Electric Future

August 8, 2019

Via: Wired

THE LATEST SIGN of a world gone mad for battery-powered cars comes a company few consumers know by name, but whose products millions rely on to move about their daily lives. Automotive industry supplier Continental said Wednesday that it’s cutting its investment in the internal combustion engine, to better focus on the electric powertrain it believes is the future of the car.

Continental is the world’s fourth largest auto supplier, according to a 2018 report from Automotive News, with $35.9 billion in annual sales. More than 70 percent of that revenue comes from Europe and Asia, where regulators are especially keen on cutting carbon emissions.

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