06 July 2026
06 July 2026
According to preliminary estimates, US Light Vehicle (LV) sales grew by 7.9% year-on-year (YoY) in June, to 1.37 million units.
UK BEV market hits new high but ZEV Mandate target gap remains.
The aim is to accelerate development of AI-defined vehicles, manufacturing and supply chains.
Acquisition of majority stake is now expected to be completed by the end of 2026.
ContiTech produces industrial parts such as conveyor belts and air springs and has a workforce of about 22,000 globally.
The company is now preparing to begin building vehicles in South Africa from mid-2027 after carrying out upgrades at the site.
The LGES-Honda joint venture will also produce HEV batteries at the facility.
Under the agreement, Pirelli also secures a licence to use RIDEsense's virtual sensor technology, with defined safeguards governing the extension of rights to third parties.
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