Half of the amount will be invested in localizing advanced automotive technologies and the remaining on developing digital capabilities such as Mobility Cloud Platform.
New Delhi: 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.
With 18 manufacturing sites, and seven development and application centers, the company is actively taking strategic steps towards the software-dominated future of mobility and developing fuel cell powertrain.
"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. We are and will remain a significant employer of talent in the India technology sector,” Stefan Hartung, chairman of the board of management, Robert Bosch GmbH, said during a virtual conference.
Highlighting company’s localisation effort Soumitra Bhattacharya, managing director, Bosch Limited, and president, Bosch Group in India, said, "Over the next five years, Bosch India will invest more than INR 1000 crore in the localization of advanced automotive technologies, and in this way support Atmanirbhar Bharat, the vision of making India self-reliant," he added.
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.
The company, which employs 31,500 associates in India, had a consolidated revenue of about INR 17,354 crore, is looking to leverage AI in manufacturing, processing and supply chain management to enable intelligent services.