Continental to double tire output

Continental AG, the German tire and automotive components giant, is confident its 250 million euro ($274 million) expansion, which saw groundbreaking of construction recently at its only factory in China, will help spearhead further expansion in the country and regionally.

Michael Egner, the general manager of Continental Tires (China) Co Ltd, said it has already invested a combined 320 million euros in two previous expansion phases at the site, opened in 2011, which is in the Hefei State High-Tech Industry Development Zone in the Anhui provincial capital.

"It's a huge investment for us, but the money will bring us rewarding returns," said Egner.