Continental, the German car parts giant, has said it plans to continue investing in its manufacturing business in Lithuania after the company faced pressure from Chinese authorities over Beijing’s dissatisfaction with opening a representation of Taiwan in Vilnius, Lithuanian media LRT.lt and Verslo Žinios report.
Last December, British-Canadian news agency Reuters reported that China pressured Continental and other multinational firms to stop using components made in Lithuania or face exclusion from its market.
The Chinese Communist Party was dissatisfied by the opening of the Taiwanese office under the name of «Taiwan» in Vilnius last autumn.
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«Our plans in Lithuania are the same as we stated at the beginning – 1,500 jobs and over 185 million euros of investments,» Shayan Ali, the director of Continental’s Lithuanian factory, said to Verslo Žinios.
Requested to comment on the Chinese trade pressure, he said the factory «was undoubtedly affected by the changing situation» and «did all we can to adapt to changing circumstances». Ali gave no further information.
In 2017, Continental said it would invest 95 million euros in the factory in Lithuania, creating 1,000 jobs. Last year, the company announced further 90 million euros of investment and 500 more jobs.
The article originally appeared on LRT English: https://www.lrt.lt/en/news-in-english/19/1619087/continental-to-continue-investing-in-lithuania-despite-china-s-pressure-media
German car parts maker to continue Lithuania investments after China pressure, media report
