The company said it would increase R&D engineers by 30 per cent.
Briefing reporters, Continental AG Division Interior Executive Board Member Helmut Matschi said the company would set up local application centres to design products. Besides, it was planning to localise the entire value chain out of Continental India for the global auto market.
As a part of its agreement made with Modi Tyre, it was agreed that Modi Tyre would manufacture around one million tyres to be sold under the Continental brand name.
Published 30 August 2010, 15:44 IST