Bosch to invest $1 billion in EV parts factory in China

[beijingwalker]

Bosch to invest $1 billion in EV parts factory in China​

By Diksha Madhok
Updated 5:39 AM EST, Fri January 13, 2023

The main building of Bosch in Dresden, eastern Germany.Jens Schlueter/AFP/Getty Images

New DelhiCNN —
Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market.
The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in the country’s east, Bosch said in a statement on Thursday.

It plans to invest around $1 billion in the project over the next years, the statement added. The first phase of the new facility is expected to be completed by mid-2024.

“China is the world’s largest auto market, full of promise and vitality. As a multinational enterprise, we need to make full use of the country’s local R&D capability and production capacity,” Stefan Hartung, chairman of the board of management of Bosch, said in the statement.

Bosch has had a presence in China since 1909 and employs around 55,000 people in the country.

The announcement comes two months after German Chancellor Olaf Scholz visited China with a team of top executives. This was the the first visit by a G7 leader to China in roughly three years.

While some in Scholz’s coalition government are growing nervous about Germany’s economic ties with China, Berlin is hardly in a position to rock the boat with Beijing as it grapples with the challenge of reviving its struggling economy.

Its consumers and companies have borne the brunt of Europe’s energy crisis, and a deep recession is looming.

Bosch to invest $1 billion in EV parts factory in China | CNN Business

Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world's largest car market.

www.cnn.com

 

[beijingwalker]

Bosch to open billion-dollar research and development centre in Suzhou, China​

Reuters

BERLIN, Jan 12 (Reuters) - German automotive supplier Bosch is investing around one billion dollars in a new research, development and assembly centre in Suzhou, China, the company said on Thursday, with the first phase of the project ready by mid-2024.

The 300,000-square-metre centre will develop and assemble components for electromobility and automated driving to sell primarily to Chinese customers, it said.

Bosch already has four factories in Suzhou, employing almost 10,000 workers.

Bosch to open billion-dollar research and development centre in Suzhou, China

German automotive supplier Bosch is investing around one billion dollars in a new research, development and assembly centre in Suzhou, China, the company said on Thursday, with the first phase of the project ready by mid-2024.

www.reuters.com

 

[Solidify]

And media reports China heading towards Economic Collapse bla bla bla

 

[beijingwalker]

And media reports China heading towards Economic Collapse bla bla bla

But their companies don't listen to their media