Bosch invests in green future
By Jin Jing |
October 16, 2009, Friday
|
Print Edition
Print Edition
GERMAN automotive supplier Robert Bosch GmbH said yesterday it will increase its number of engineers in China to develop auto parts for use in green vehicles.
By the end of this year, the company will have around 35 engineers working on projects in the newly established division for hybrid and electric cars at the United Automotive Electronic System, its joint venture with SAIC Motor Corp.
This number is expected to increase to 100 in the near future, according to Franz Fehrenbach, chairman of the Bosch board of management, who was in Beijing yesterday to celebrate the company's 100th year of operations in China.
The world's largest auto parts maker has invested 160 million euros (US$239 million) in China this year, focusing on renewable energy and electrification for new energy vehicles despite the downturn in global markets.
Bosch intends to expand in China through focusing strongly on fuel-efficient and environmental-friendly technologies as the country aims to have 500,000 new energy vehicles on the road by 2011.
"China will remain a major driver for our growth in Asia," said Fehrenbach, "We are encouraged by the market potential for resource-saving and energy-efficient innovations and will future strengthen our presence in the country."
Although Bosch's global sales revenue is estimated to drop 15 percent this year, the Stuttgart-based company expects 2009 sales in China to grow 15 percent to 2.6 billion euros, fueled by robust vehicle sales boosted by government stimulus measures.
Fehrenbach said even as more efforts are put into developing new energy vehicles, the internal combustion engine will still dominate the global auto market for the next 20 years.
By the end of this year, the company will have around 35 engineers working on projects in the newly established division for hybrid and electric cars at the United Automotive Electronic System, its joint venture with SAIC Motor Corp.
This number is expected to increase to 100 in the near future, according to Franz Fehrenbach, chairman of the Bosch board of management, who was in Beijing yesterday to celebrate the company's 100th year of operations in China.
The world's largest auto parts maker has invested 160 million euros (US$239 million) in China this year, focusing on renewable energy and electrification for new energy vehicles despite the downturn in global markets.
Bosch intends to expand in China through focusing strongly on fuel-efficient and environmental-friendly technologies as the country aims to have 500,000 new energy vehicles on the road by 2011.
"China will remain a major driver for our growth in Asia," said Fehrenbach, "We are encouraged by the market potential for resource-saving and energy-efficient innovations and will future strengthen our presence in the country."
Although Bosch's global sales revenue is estimated to drop 15 percent this year, the Stuttgart-based company expects 2009 sales in China to grow 15 percent to 2.6 billion euros, fueled by robust vehicle sales boosted by government stimulus measures.
Fehrenbach said even as more efforts are put into developing new energy vehicles, the internal combustion engine will still dominate the global auto market for the next 20 years.
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