Conti Plan Chinese Venture

Chinese company Qingdao Doublestar has announced that it is forming a joint venture with Continental in China.

In a statement to the Shenzhen stock exchange the Chinese company is said to have reported that Conti is expected to start negotiations on financial terms and other venture details.

Once again the market’s focus is on China, where passenger car sales surged 76 per cent last year to 1.97 million units. Goodyear Tire & Rubber, Michelin and Yokohama all have existing operations within the expanding market.