By: Jennifer Rocha

Continental AG is a German car part and tire manufacturer; SK Innovation is third-largest company in South Korea

The joint venture will be based in Berlin, Germany.  Both companies signed a letter of intent at the 2012 North American Auto Show in Detroit, MI, earlier this year.  SK Innovation will be the majority shareholder in the new company (51%), and the Berlin-based company will have up to 200 employees, with additional R&D to take place in Daejon, South Korea.