Bosch has big plans for green cars
By Vivian Jin |
April 21, 2011, Thursday
|
Print Edition
Print Edition
BOSCH Group said it plans to invest 400 million euros (US$581 million) in China this year to speed up localization and development of energy-saving green technologies.
The investment is part of its 2-billion-euro spending in the Asia Pacific region by 2013 and 700-million-euro investment in the area this year, Chairman Franz Fehrenbach said at the opening of its Chinese headquarters in Shanghai yesterday.
The money will be used to speed up expansion, including building its fifth engineering center in Changsha, Hunan Province. The company also plans to increase head count by 7,000 to 33,000 this year.
Bosch is among automotive suppliers that are heavily investing in China as the nation's higher emission standard and demand for low-emission energy-saving vehicles drive up business.
The German firm now provides diversified fuel-efficient solutions such as direct injection system and diesel common-rail system. It is also developing new energy vehicle technologies for hybrid and electric cars though mass production of those green models is still some way off.
Fehrenbach said the current technology level for electric cars is still expensive for large individual supply but sees a huge potential in China as the country is in good shape to coordinate infrastructure construction and industrial standard. "We think China will be a leading market in e-mobility. That's why we have brought all the necessary R&D here."
The investment is part of its 2-billion-euro spending in the Asia Pacific region by 2013 and 700-million-euro investment in the area this year, Chairman Franz Fehrenbach said at the opening of its Chinese headquarters in Shanghai yesterday.
The money will be used to speed up expansion, including building its fifth engineering center in Changsha, Hunan Province. The company also plans to increase head count by 7,000 to 33,000 this year.
Bosch is among automotive suppliers that are heavily investing in China as the nation's higher emission standard and demand for low-emission energy-saving vehicles drive up business.
The German firm now provides diversified fuel-efficient solutions such as direct injection system and diesel common-rail system. It is also developing new energy vehicle technologies for hybrid and electric cars though mass production of those green models is still some way off.
Fehrenbach said the current technology level for electric cars is still expensive for large individual supply but sees a huge potential in China as the country is in good shape to coordinate infrastructure construction and industrial standard. "We think China will be a leading market in e-mobility. That's why we have brought all the necessary R&D here."
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