SHANGHAI – Bosch Group, the world’s leading supplier of automotive parts and diagnostic technology, held a press conference on December 10, 2008 in Shanghai to mark its consolidated integration of two brands of Beissbarth and Kingtech during the Automechanika Shanghai event.
Bosch has been devoted to improving its product standards since it set up the trading company in Shanghai 10 years ago with the aim to become a leading brand in China’s auto service market. Currently Bosch has 37 businesses in China with a sales revenue of 1.8 billion euro ($ 2.634 million) in 2007.
“Bosch’s achievements stem from the successful acquisition of Beissbarth and Kintech in previous months,” said Zheng Dazhi, general manager of Bosch Trading (Shanghai) Co., Ltd., “The former has strengthened our technical advantages in sharing Bosch products, while the latter has greatly enhanced our R&D and production capacity on testing equipment in China. The integration of three brands will accelerate the pace of Bosch’s expansion in China’s aftermarket business.”
Despite the global financial crisis that has impacted car sales on China market recently, Zheng Dazhi was confident in saying that Bosch would be able to fulfill year target and overall sales in China has been normal. The general manager told CBU/CAR that Bosch will not be affected in its long-term investment in China on aftersales market. “So far we have no plan to shrink our auto business in China. More investments will be made instead,” he added.
Bosch has spent a total of 1 billion euro ($1.463 billion) investment in China till the end of 2007, with 17,000 employees in the country. To achieve its ambitious goal, Bosch has planned to add 850 million euro ($1.244 billion) for further investment before 2010, according to the press release.
Further expansion of automotive aftermarket is Bosch’s strategy in China. Following the global acquisition of Beissbarth in April 2007, Bosch quickened its steps for integration of natural resources by purchasing Kingtech business of diagnostic equipment in Shenzhen last March.
China’s auto industry is heading for high-tech services requiring multiple choices of products. Bosch will continue to make efforts for more innovative products to meet the diversity of customer needs and expand their market share roughly from eight percent to 10 percent in China as well as in Asian Pacific region.