Robert Bosch GmbH is forecasting that for the first time, its sales in its automotive technology unit will surpass 30 billion euros for this year, the unit's chairman Bernd Bohr revealed at a press event in Stuttgart on Tuesday.
The increase would represent a 10 percent hike in sales, aided by strong growth in Asia. The automotive technology unit’s sales in the continent have increased more than four times in 12 years to 7.4 billion euros from 1 billion, Bohr disclosed.
Bohr further stated that Bosch intends to invest in 3.2 billion euros in automotive technology research and development in 2011. He also revealed that the company will increase its workforce from 167,000 employees during the start of this year to 177,000 by the end of 2011.
He disclosed that the Asia Pacific makes up most of this increase, but other parts of the world will also have a growing number of employees. In addition, Bosch is planning to be at the forefront in the development of electric powertrains and chassis production.
Currently, the company spends 400 million euros annually on the technology with 800 engineers employed in EV research and development. Bohr further revealed that by 2013, at the latest, the company will begin series production of around 20 projects for 12 vehicle manufacturers, involving products for electromobility across the company’s entire portfolio.
He added that the high cost of electric mobility will push vehicle manufacturers as well as suppliers into pooling production and standardizing components to lower the costs through economies of scale at a quicker rate compared to the present.