German automaker Bosch is confident in the Chinese market and is committed to expanding investment in local research and development as well as production functions in the world’s largest auto market, according to a company executive.
The newly appointed president of Bosch China, Xu Daquan, said that despite challenges from the COVID-19 pandemic and chip shortages in the past two to three years, the development of China’s auto industry, especially in electrification and smart sectors, has not slowed down.
“China is vital for Bosch, emerging as Bosch’s largest single market globally since 2020. Bosch remains confident in China’s future prospects. Chairman Stefan Hartung consistently stresses increased investment, a strong presence and comprehensive service for Chinese customers,” Xu said at the Bosch Mobility Innovation Day held last week in Guangde county, Anhui province.
In 2023, Bosch China experienced strong expansion with record sales, accounting for more than a quarter of the group’s global sales. This evolution was mainly driven by the automotive sector, while the non-automotive segment showed a less favorable performance. The express knowledge has yet to be revealed, according to Xu.
The Chinese committee of the new structure Bosch Mobility, an independent unit of its parent company mega-vendor, celebrated its first participation in the event.
The committee takes charge of all relevant business units in China, aiming to boost decision-making and technological innovation efficiency in the country.
Wang Weiliang, chairman of Bosch Mobility’s Chinese committee, called the restructuring “one of the biggest changes in Bosch’s 138-year history. “
With annual sales of more than 100 billion yuan ($13. 98 billion), Bosch Mobility China currently employs more than 35,000 people and operates 24 production sites in China.
At the event, the company showcased a diversity of local inventions in electrification and smart mobility, adding evolved vehicle movement management, a unique parking solution and a third-generation flexible camera.
The Intelligent Turning Assist formula, presented for the first time at the event, applies forces to all 4 wheels using exact algorithms and sensor signals, thus reducing the turning radius. Mass production of the formula began this year.
Bosch points out that the Chinese market is also a leader in innovation, production and technological application. The company will continue to invest in R&D
In March, Bosch invested about 7 billion yuan in Suzhou, Jiangsu province, to
The new Bosch Hydrogen Powertrain Systems (Chongqing) went live in November, accelerating the industrialization of hydrogen technology.
Faced with overseas growth opportunities for Chinese automakers, Bosch said it can help them reach the global level through its global research and development expertise.
Over the course of 2023, the Bosch Cross-Domain Computing Solutions division assisted the entry of more than 60 models into overseas markets.
In particular, it assisted two models of a Chinese automaker to achieve five-star 2023 European New Car Assessment Programme, or Euro NCAP, safety ratings in terms of the protection of vulnerable road users and safety assistance.