March 7, 2019 / 9:53 AM / a month ago

Continental AG: autonomous driving revenues won't be significant until 2030

Elmar Degenhart, CEO of German tyre company Continental poses for the media before the annual news conference in Hanover, Germany March 7, 2019. REUTERS/Fabian Bimmer

FRANKFURT (Reuters) - Revenues from autonomous driving will not ramp up until 2030 and beyond, the chief executive of German auto supplier Continental AG said on Thursday.

“Until 2030, the market will be driven mainly by assistance systems. Significant revenues will only come in 2030 and thereafter,” Chief Executive Elmar Degenhart said in response to a question about when the market for fully autonomous vehicles will take off.

Degenhart was speaking at a press conference on Thursday to discuss the company’s earnings.

Reporting by Edward Taylor; editing by Thomas Seythal

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