BERLIN, April 21 (Reuters) - German automotive supplier Continental plans to invest about 1 billion euros ($1.07 billion) in China over the next five years, Chief Executive Elmar Degenhart said on Tuesday.
Hanover-based Continental, seeking to boost the share of Asian sales to 30 percent of global turnover by 2020 from a fifth at present, already spent 1 billion euros in China in the 2010-14 period, Degenhart said in a presentation at the Shanghai auto show emailed to Reuters.
"It is anticipated that growth impetus will be driven by Asia, and particularly by the markets in China as well as in North America," the CEO said.
Continental is due to publish first-quarter results on May 7.
($1 = 0.9379 euros) (Reporting by Andreas Cremer; Editing by Maria Sheahan)