ALSO READContinental looks at options for combustion engine business: source Continental mulls overhaul, possible breakup: Bloomberg German economy to end 2017 "with a bang" as industrial output surges Europe's Altice to spin off U.S. operation, simplify business Europe's Altice to spin off U.S. operation, simplify business
HAMBURG (Reuters) - Continental AG is still looking at its corporate structure as part of a review launched more than a year ago, a source close to the matter said on Tuesday after a media report on a possible breakup of the car parts maker pushed its shares to a record high.
A possible separation of Continental's business related to combustion engines also remains on the agenda as the auto industry shifts its focus towards electric vehicles, the person said.
Investment banks have presented various ideas over the last couple of months, but no specific blueprint has emerged so far, the person said.
Continental is investing in electric drives and strengthening its expertise in automotive electronics as customers such as Volkswagen, Daimler and Ford sharpen their focus on electric and self-driving technologies.
The Hanover-based group said a year ago it was reviewing its strategy for its Powertrain division after earnings at the business, whose products include transmission control units and fuel pumps, failed to meet expectations.
But it has also pledged to keep developing new products and systems for combustion-based power trains until at least 2025 when it expects demand for electric vehicles to start taking off on the back of continuing reductions in battery prices.
The review remains at an early stage, with no decision made yet, it cited the sources as saying.
Continental, which is due to publish preliminary financial results later on Tuesday, declined to comment.
They were up 5.3 percent at 251.20 euros by 1442 GMT.
Carmaker Daimler has said it may split parts of its business into separate legal entities, which may allow for a partial listing to raise funds to invest in new services such as autonomous and electric cars.