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Bosch invests in green future
ROBERT Bosch GmbH announced yesterday it would invest 1.9 billion euros (US$3 billion) in Asia-Pacific from now until 2010 to meet the growing market demand for green technology.
'We see great growth potential in Asia for all our business sectors especially as it relates to green technology to conserve resources and protect the environment,' said Uwe Raschke, the new member of Bosch's Board of Management Asia-Pacific, in Beijing yesterday.
Raschke noted that China is a main contributor to Asian business. New investment in China will be around 850 million euros by 2010.
Auto parts suppliers have been following car makers to introduce new applications and add capacity in Asia, the world's fastest growing auto market.
Amid the growing awareness of environment protection and fuel economy, Bosch said energy saving will be one of its key strengths.
New investment will enable Bosch to continue the development of automotive innovations, such as common rail diesel technology, that are clean, safe and fuel-economic, with a special focus on localized solutions for Asian manufacturers.
In addition, the company is also looking at the opportunity to exploit renewable energies including wind energy, solar energy and lithium ion power tools.
Major investment infrastructure projects will provide further growth potential for its power tool and security technology division in the region, Raschke said.
The huge investment reflected Bosch's aggressive expansion in the region, which is becoming the major growth driver for its global business.
The world's largest auto parts maker has set a target of 22 billion euros in Asian sales by 2015, which will contribute 25 percent to its total sales.
This means roughly tripling sales in China and India, doubling sales in Japan and increasing them by 50 percent in the rest of the region.
Last year, Bosch's sales in Asia-Pacific, where it has 64 manufacturing sites and 50,000 associates, achieved double-digit growth for the third consecutive year at 7.6 billion euros, equivalent to 17 percent of Bosch's overall sales.
'We see great growth potential in Asia for all our business sectors especially as it relates to green technology to conserve resources and protect the environment,' said Uwe Raschke, the new member of Bosch's Board of Management Asia-Pacific, in Beijing yesterday.
Raschke noted that China is a main contributor to Asian business. New investment in China will be around 850 million euros by 2010.
Auto parts suppliers have been following car makers to introduce new applications and add capacity in Asia, the world's fastest growing auto market.
Amid the growing awareness of environment protection and fuel economy, Bosch said energy saving will be one of its key strengths.
New investment will enable Bosch to continue the development of automotive innovations, such as common rail diesel technology, that are clean, safe and fuel-economic, with a special focus on localized solutions for Asian manufacturers.
In addition, the company is also looking at the opportunity to exploit renewable energies including wind energy, solar energy and lithium ion power tools.
Major investment infrastructure projects will provide further growth potential for its power tool and security technology division in the region, Raschke said.
The huge investment reflected Bosch's aggressive expansion in the region, which is becoming the major growth driver for its global business.
The world's largest auto parts maker has set a target of 22 billion euros in Asian sales by 2015, which will contribute 25 percent to its total sales.
This means roughly tripling sales in China and India, doubling sales in Japan and increasing them by 50 percent in the rest of the region.
Last year, Bosch's sales in Asia-Pacific, where it has 64 manufacturing sites and 50,000 associates, achieved double-digit growth for the third consecutive year at 7.6 billion euros, equivalent to 17 percent of Bosch's overall sales.
