The Bosch logo. [Photo/Agencies]
Leading German engineering and technology company Bosch recently announced that it will continue localizing its operations and investing in China at the Bosch China Annual Press Conference.
The German company saw its China sales revenue grow by nearly 3 percent on a yearly basis to 132.1 billion yuan ($19.11 billion) in 2022.
Due to surging demands in China's automotive industry, the sales of Bosch's mobility solutions unit in China exceeded 100 billion yuan for the first time last year.
Chen Yudong, president of Bosch China, said China's intelligent and electrified mobility, smart manufacturing and sustainable development sectors have enormous growth potential and offer the company many business opportunities.
Bosch's long-term development strategy in China is centered on enhancing local production, research and development capabilities, as well as prioritizing customer needs, Chen added.
He pointed out that Bosch has invested 50 billion yuan in China over the past 10 years, and that the group's research and development expenses in China amounted to 10 billion yuan in 2022.
The German company currently operates 34 manufacturing sites and 26 technical centers in China that employ over 58,000 associates, including nearly 10,000 researchers and project developers.
