For over 850 crore, the German multinational corporation Continental Automotive purchased an 8.5 lakh square foot office building in Bangalore. The Sattva Group’s office space in Electronic City is spread out over 5.5 acres and has seating for about 6,000 workers.
Over the past ten years, Continental has continually made foreign direct investments in India, primarily in the state of Karnataka. Additionally, the German company and the Karnataka government inked a memorandum of understanding (MoU) in July for the state’s anticipated 1,000 crore in foreign direct investments.
The proposed investment will help Technical Center India (TCI), the company’s internal research and development division, expand. TCI is anticipated to eventually employ 6,000 employees.
This will encourage innovation in the global automotive industry’s use of linked technology, autonomous mobility, and automotive software development. It would also provide Bengaluru’s expanding automotive R&D environment a boost.
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