Continental to cash in on auto market

Auto supplier Continental AG aims to double its China sales from last year's 4.5 billion euros ($5.1 billion) to 10 billion euros by 2020, its China head said on Monday.

"China is transforming into an innovative country. As the largest auto market in the world, China's auto industry is moving from volume to value," said Ralf Cramer, member of the executive board of Continental, and president & CEO of Continental China.

He said with its broad product portfolio, Continental brings to vehicles innovative technologies, which will sustain the company's double-digit growth in China over the next few years.