Other Disclosures

Continental and SK Innovation planning global cooperation for electric vehicle drives
On January 10, 2012, Continental and SK Innovation Co., Ltd., Seoul, South Korea, announced plans for a worldwide cooperation on drive systems for electric vehicles. The two companies signed an agreement in principle to this effect at the North American International Auto Show in Detroit, U.S.A., in which they envisage the formation of a company for the joint development, production and marketing of lithium-ion battery modules for automotive applications.

The agreements for the new company have not yet been concluded, though this is scheduled for mid- 2012. According to planning, SK Innovation and Continental will hold 51% and 49% of shares in the company respectively. Automotive manufacturers are to be supplied internationally. The first operating facilities of the planned enterprise will be located in Germany and South Korea. The management team will consist of managers from both companies.