Bosch showcases its driver assistance systems. [Photo/WeChat ID: shchangning]
At a recent press conference held in Shanghai, German industrial giant Bosch Group, with its China headquarters in the Hongqiao International Central Business District, announced robust financial results and strategic advancements in the Chinese market for fiscal year 2024.
It revealed a 2.7-percent year-on-year increase in sales in China, totaling 142.7 billion yuan ($19.77 billion) in 2024. The intelligent mobility sector led this growth, contributing 82 percent of total sales, or 116.6 billion yuan, a 4-percent rise from the previous year.
Stefan Hartung, chairman of Bosch Group, underscored China's critical role, stating, "The Chinese market's importance for Bosch is undeniable. We are committed to deepening our roots here."
Bosch's investment in China reached approximately 60 billion yuan in 2024, part of a decade-long investment exceeding 600 billion yuan. This strategic focus is bolstered by China's automotive production surpassing 30 million units in 2024, outpacing the combined output of Europe and the United States.
The company is ramping up innovation, allocating 11.9 billion yuan to R&D in China in 2024, and over 10,000 R&D personnel among its 56,000 employees are in the country.
Bosch China President Xu Daquan said that Bosch is shifting from "rooted locally, serving locally" to "based in China, serving globally". Key technologies are being developed and first applied in China before being introduced globally.
In intelligent mobility, Bosch has developed groundbreaking projects like the cross-domain cockpit controller and the first wire-controlled braking system in China. At Auto Shanghai 2025, Bosch showcased AI-powered cockpit platforms and steer-by-wire solutions, with plans to launch its upgraded driving system overseas in 2026.
The company is leveraging AI to enhance its engineering processes. It has partnered with China's Tsinghua University to advance industrial AI applications.
Bosch is also actively supporting Chinese companies in their international expansion. Xu stated, "For Bosch, leveraging deep collaboration with China to support the global development plans of Chinese enterprises is a key strategic direction for our growth in the Chinese market."
In a major strategic move, Bosch also announced at the conference that it plans to complete its largest acquisition by mid-year, acquiring HVAC businesses from Johnson Controls and Hitachi to boost its Comfort Technology Division, which is expected to significantly boost its business growth in China.
