Continental plans price hikes due to $3.7 billion extra costs in …

erman car parts supplier Continental (CONG.DE) said on Friday it expects energy, logistics and materials cost to rise by 3.5 billion euros ($3.7 billion) this year due to COVID-19 and the Ukraine war, and is in talks with customers to increase prices. Raw material markets and supply chains have been tight for months due to the pandemic and the situation deteriorated further due to sanctions imposed on Russia after its invasion of Ukraine, Chief Executive Nikolai Setzer told shareholders.