Auto components major Bosch is all set to inject a fresh investment of INR 2,000 crore in India over the next five years. Half of the amount will be invested in localizing advanced automotive technologies and the remaining on developing digital capabilities such as Mobility Cloud Platform.
Speaking at a virtual event to mark the centenary, Dr. Stefan Hartung, Chairman of the board of management of Robert Bosch GmbH said, “Bosch India has brought together the best of German engineering and Indian entrepreneurship to develop innovative products across all segments. Over the past decade we have invested EUR 1 billion (~INR 9,000 crore). We will be investing over INR 1000 crore and another INR 1000 on digital mobility over the next five years.”
“Bosch’s 100-year journey in India is a testament to the passion, hard work, and dedication of our associates. I sincerely thank our associates for the part they have played in this,” said Soumitra Bhattacharya, managing director of Bosch Ltd and president of the Bosch Group in India.
Also, Read This: Germany-based Liteauto GmbH Has Signed An MoU With The Govt of Telangana To Invest Rs 1,500 crores
Bosch India has invested INR 380 crore over the last 10 years and an additional INR 238 crore is planned over the next 5 years in the safety domain. As per the management, the company is actively scouting for partnerships in overall mobility space particularly in personalized automated connected and electric space.
On the ongoing global issue of chip shortage which has paralised many industries including automotive, Markus Heyn, Member of the board of management, Robert Bosch GmbH said that the company has also felt the heat as it is one of the largest suppliers of electronics in the world.
“We have been for decades a chip manufacturer ourselves. So, currently we are expanding our manufacturing footprint at the same time trying to be innovative and creative in finding alternate chips for various applications for our customers in order to ease the supply chain concerns,” he added.
Bosch said that it had opened its first sales agency in Kolkata in 1922. From these beginnings, it now encompasses 18 manufacturing sites and 7 development and application centers, employing close to 31,500 associates. Over the next five years, Bosch India will invest over ₹1,000 crore in the localization of advanced automotive technologies, and support Atmanirbhar Bharat, the vision of making India self-reliant.
Also, Read This: Electric Bike Startup Ultraviolette Automotive Bags USD 15 million In Its Series-C Round
