Auto supplier Bosch expects sales of e-mobility products to reach a billion euros this year
It’s becoming increasingly clear that automakers that embrace electrification (and manage the transition effectively) will have a competitive advantage over those that try to delay the inevitable. Component suppliers, which are spread all around the world and employ many thousands, don’t get mentioned in the news media as much, but they face the same dynamic.
Above: Bosch works with Tesla and other major automakers as a key supplier for electric vehicles (Source: Bosch)
Tier 1 supplier Bosch has been preparing for the shift for several years—it currently offers a wide range of electromobility-related products, from e-bikes to construction machinery to silicon carbide chips to integrated e-axle modules. Bosch supplies semiconductor chips to Tesla.
The company recently announced that it expects to generate more than 1 billion euros in sales from e-mobility this year.
Bosch says it has invested some 5 billion euros in electromobility to date, and plans to put another 700 million euros on the table this year. By 2025, sales are expected to grow fivefold.
Above: A look at Bosch's recent efforts as an automotive supplier working towards vehicle electrification (YouTube: Bosch Mobility Solutions)
“Electromobility will become a core business for us,” said Dr. Volkmar Denner, Chairman of the Bosch Board of Management. “It must be climate-friendly, but it also has to be affordable and attractive, not least in light of the ambitious targets set by the EU.”
“We are preparing for increasing demand for electric vehicles across the globe,” said Board Member Dr. Stefan Hartung. “Worldwide, we expect that 60 percent of all newly registered vehicles in 2035 will be electric.”
Bosch is investing not only in battery-electric powertrains, but in fuel cell powertrains, as well as vehicle autonomy and connectivity projects.
This article originally appeared in Charged. Author: Charles Morris. Source: Bosch