SHANGHAI – Bosch registered sales of €6.4 billion ($7.2 billion) in China in 2014, up 27 percent year-on-year, the German supplier said in a statement on April 20.
The leading global supplier of technology and services has attributed the success to further localization. “We want to actively shape the development of the Chinese market, and take advantage of the wealth of opportunities arising above all from connectivity, automation, and electrification, as well as energy efficiency,” said Peter Tyroller, Bosch’s board member responsible for Asia Pacific, at an annual press meeting here.
To strengthen local manufacturing operations and build up R&D in China, Bosch has invested almost €920 million in China over the past three years. In 2014 alone, investment amounted to nearly €330 million. “Our localization strategy in China is paying off, as our business success in the country shows,” Tyroller emphasized.
For instance, the Bosch Mahle Turbo Systems joint venture opened its first plant for manufacturing turbochargers in Shanghai in 2014, to respond to the country’s steadily growing demand for energy-saving and emissions-reducing automotive technology. And the second Bosch diesel technology plant is to be opened this year in Qingdao, Shandong Province.
At Auto Shanghai 2015, Bosch presented integrated mobility technologies and solutions focusing on connectivity, automation and electrification.
Bosch has been present in China since 1909 and China is its third largest market in the world. It employs 53,000 associates in China, the largest Bosch workforce outside Germany.