Bosch China business jumps 25% in 2008

Apr. 23, 2009 (China Knowledge) - Robert Bosch GmbH, the world's largest supplier of automobile components, said on Tuesday its business in China jumped 25% in 2008 despite a global economic downturn, the Shanghai Daily reported.

Consolidated sales in China, which include automotive and industrial technology, consumer goods and building technology, increased 30% to RMB 22.8 billion, slower than earlier proposed RMB 25 billion, said Uwe Raschke, a member of the board of management heading the Asia Pacific region. 

The company attributed the slowdown in sales to the sluggish market amid the financial crisis.

The Chinese market contributed EUR 45 billion to Bosch's global sales in 2008, down 2.8% year on year due to the appreciation of the euro. However, the Chinese market remains a significant contributor to its global sales and the company will not change its investment plan in China even though it is cutting costs worldwide, according to Raschke.

Moreover, Bosch (China) Investment Ltd plans to introduce lithium-ion batteries for hybrid and electric vehicles as early as 2011 as the demand may rise on greener vehicles promotion.