Other suppliers also have moved to reposition themselves in recent weeks.
Two German suppliers, Continental and Osram, said Sept. 23 that business conditions have become too challenging for them to continue their advanced lighting joint venture, Osram Continental. They now intend to close the partnership, launched in 2018, and divide its approximately 1,500 employees between the two parent companies.
“Continental and Osram are responding to the difficult market situation caused by the continuing, low global level of vehicle production and the economic crisis, which was exacerbated by the effects of the coronavirus pandemic,” the venture said in a statement. “Continental does not expect global vehicle production to return to 2017 precrisis levels before 2025 — and against this current backdrop, the former joint expectations of profitable growth for the joint venture can no longer be realized.”
Continental, one of the world’s biggest parts makers, last week said it has approved