Continental intends to make an investment of around EUR1bn (US$1.07bn) in China in the 2015-19 period.

At present, Asia accounts for 20% of the company's global sales. By 2020, Continental is looking to increase this figure to 30%.

In the 2010-14 period, the company had invested EUR1bn in China, Reuters reported.

Continental CEO Elmar Degenhart said, "It is anticipated that growth impetus will be driven by Asia, and particularly by the markets in China as well as in North America."