Continental AG is moving ahead with plans to carve out its powertrain division while postponing a final decision, as the German auto-parts maker adapts to the disruptive and costly shift to self-driving, electric cars.
Preparations for a partial initial public offering of the unit, which makes components for combustion and electric-powered vehicles, will be completed toward the end of the second half, the Hanover-based company said April 26 in a statement. The unit is valued at as much as 5 billion euros ($5.6 billion).
The project is taking longer than expected. Continental now sees a potential listing for the division ...
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