Osram and Continental both the technology companies have successfully signed off the Osram Continental GmbH joint venture.The idea is to combine the innovative lighting technology with the electronics and software to develop an intelligent lighting solution for the automotive industry.
It is decided that both the companies will have 50 percent stake in the venture with the aim to combine both the company’s expertise in lighting, light control and electronics. The venture has been scheduled to start in second half of 2018 as soon as all the necessary merger control approvals will be granted.
Dirk Linzmeier (CEO) from Osram and Harald Renner (CFO) from Continental will be managing the venture together.
Hans-Joachim Schwabe, CEO of Osram’s Specialty Lighting division explains the importance of venture by saying, “Digitalization is creating new potential applications in automotive lighting and, in turn, tremendous opportunities that we want to leverage with Continental.”
He further added, “By joining forces, we will be in an even better position to drive forward innovations by working closely with the automotive industry to integrate lighting, sensor technology and electronics seamlessly in a single application. This will allow us to advance 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.”
This venture will help both the companies to offer an unrivaled portfolio in the lighting market to their customers.