Bosch to add 850 mln euros to China investment

Shanghai, October 22 (Gasgoo.com) Bosch Chairman Franz Fehrenbach announced in Beijing recently that Bosch will invest 100 million euros to build a new energy facility in Beijing this year and the company will invest a total of 850 million euros in the coming three years, Beijing Business Today said yesterday.

Up to 2007, Bosch had put 1 billion euros in its China operations, and plans to further invest 850 million euros in the 2008-2010 period. The company will focus these investments on resource-saving and energy efficiency innovations, according to Fehrenbach.

Despite the impact of American financial crisis and global economic slowdown, Franz Fehrenbach still expected Bosch’s global sales revenue will reach 47 billion euros in 2008, a slight growth over 2007. The auto-parts giant is expected to achieve sales increase by 14% in the Asian market this year; in particular, it is likely to see a 30% year-on-year sales increase to 2.3 billion euros in China for the whole year.

Fehrenbach said that renewable energy will be one of Bosch’s important investment fields in China. Bosch will invest 100 million euros in Beijing to build a wind energy technology facility. Currently, the auto-parts maker has gained 1 billion euros revenue from renewable energy, which is believed to bring more profit.

As gasgoo.com reported previously, one of Bosch's important investments in China is to develop a clean and energy-saving driving programme. In the coming three years, the auto-parts giant plans to invest about 200 million euros in the Common Rail Diesel Injection System project, the capacity of which will increase to 1.4 million units in 2010 from 100,000 last year. Bosch and Wuxi Weifu High-technology Co. will jointly fulfill this project.