Continental Automotive buys 8.5 lakh sqft office space in Bangalore

office space bengaluru

German transnational company, Continental Automotive, has bought 8.5 lakh sq. ft office space in Bangalore for around ₹850 crore. The office property in Electronic City, owned by Sattva Group, is spread over 5.5 acres and can seat around 6,000 employees.

Continental has made foreign direct investments consistently over the past 10 years in India, particularly Karnataka. Additionally, in July, the German firm had signed a memorandum of understanding (MoU) with the government of Karnataka for planned foreign direct investments of around ₹1,000 crore in the state.

The proposed investment is toward furthering the growth of its in-house research & development organization, Technical Center India (TCI), which is expected to employ about 6,000 people.

This will boost innovation around automotive software development, connected technologies, and autonomous mobility for the global automotive industry. It will also provide a fillip to the growing automotive R&D ecosystem in Bengaluru.

: Published: 30 September 2022

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