Bosch restructures with focus on electric vehicles

Last updated: 2024/09/16 at 9:03 PM

starconnect Published 16 September 2024

FILED - 06 February 2024, Baden-Wuerttemberg, Stuttgart: The logo of the technology group Bosch shines on a parking garage at the airport above highway 8. Tech giants Bosch and Microsoft have agreed to work together to make cars safer with the help of artificial intelligence (AI), the chair of Bosch's management board, Stefan Hartung, announced on 28 February. Photo: Bernd Weißbrod/dpa

Admin I Monday, Sept 16, 2024

BERLIN – German automotive supplier Bosch plans to bundle its commercial vehicle business into a new unit from the start of next year with a view to expanding its operations in this sector, the company announced in Hanover on Monday.

Making the announcement at the IAA Transportation commercial vehicle trade fair, Bosch said that around a quarter of its total turnover could be attributed to the sector.

“We are expecting a further boost to growth for our business in the years ahead from the continuing imminent growth in global goods transport and the simultaneous switch to alternative drives in commercial vehicles,” Bosch Mobility head Markus Heyn said.

The company intended to make use of these opportunities by combining system development with product and portfolio management for trucks and off-road applications.

“We are convinced that we can offer our customers added value through this new setup,” Jan-Oliver Röhrl, the head of the new business unit, said.

Bosch predicts that by 2030 a fifth of all large trucks will be electrically powered, and a third by 2035. An additional 10% could then be powered by fuel cells, according to the company’s predictions.

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