German automotive technology companies Continental AG and Osram Licht AG have agreed to establish a 50:50 joint venture to produce lighting modules.
Scheduled to start in the second half of the year, Osram Continental GmbH will be based in Munich and will involve around 1,500 employees.
The product portfolio will feature semiconductor-based lighting modules such as LED modules for front and rear headlights, laser modules and light control units.
The JV will work towards advancing 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, according to Hans-Joachim Schwabe, CEO of Osram’s Specialty Lighting division.
Osram’s Dirk Linzmeier has been appointed as the CEO of the JV, while Conti’s Harald Renner will serve as the CFO.
“We want to actively drive forward technological change in the lighting market within the automotive industry and develop even more innovative and intelligent lighting solutions,” said Andreas Wolf, head of Continental’s Body & Security business unit.
Also commenting, Hans-Joachim Schwabe said the JV will leverage Conti’s digitalisation capabilities in automotive lighting applications.
The sales target for the JV has been set at “mid-triple-digit-million-euro” range, the two companies announced 3 April.