QINGDAO, Nov. 1 (Xinhua) -- German auto parts supplier Continental AG started to construct a research and development base for automotive fluid technology in the eastern coastal city of Qingdao on Tuesday.
After completion, the base in Qingdao West Coast New Area will serve as the rubber hose production base for Contitech, the subsidiary of Continental AG in the Asian-Pacific region, according to sources at the Qingdao West Coast New Area.
With an investment of 75 million U.S. dollars, the base is expected to be finished by November 2018.
Continental, which was founded in 1871, is one of the world's leading auto parts suppliers, and global sales of Contitech reached 5.4 billion euros in 2015. Its products are mainly applied in machinery, engineering, mining and automobiles. Enditem
