Auto Components Supplier Set to Quadruple China Sales - aftermarketNews

Auto Components Supplier Set to Quadruple China Sales

World-leading automotive parts and components supplier Robert Bosch GmbH plans to cash in on China's fast-growing auto sector by quadrupling its sales in the nation by 2012. The company plans to lift its sales to $6 billion by 2012 from last year's $1.56 billion.

From China Daily World-leading automotive parts and components supplier Robert Bosch GmbH plans to cash in on China’s fast-growing auto sector by quadrupling its sales in the nation by 2012.

The company plans to lift its sales to $6 billion by 2012 from last year’s $1.56 billion.

Bosch will expand its existing production facility, build new factories and seek acquisition and merge opportunities to help it meet this ambitious target, said Peter Pang, president of Bosch (China) Investment Ltd.

“We want to maintain our leadership in the industry,” said Pang.

Bosch announced that it will establish a joint venture in Wuxi in East China’s Jiangsu Province to produce common rail systems – a diesel fuel injection system in auto engines – for local Chinese customers, an important aspect of its expansion plans.

The project, which awaits government approval, will be the firm’s largest overseas investment, totaling $493 million.

Production of the joint venture is due to start this summer.

Bosch Group holds a 67 percent share in the venture, with the Wuxi Weifu Group taking the remaining 33 percent.

Bosch also plans to establish a $60 million technical center in Wuxi by 2005.

“Our partnership with Wuxi Weifu is yet another exciting opportunity for Bosch to further extend its leadership in the China market through expansion of our production capabilities for providing the efficient and clean diesel technologies,” said Christoph Kirsch, general manager of Bosch Automotive Diesel Systems Co Ltd.

Kirsch said China’s automobile market presents huge opportunities for Bosch’s expansion in China.

Huge growth potential exists for auto firm’s investing in China, as the nation’s average car ownership is 0.5 per 100 people, as compared with 55 in Germany and 80 in the United States.

Bosch has three main business divisions in China – customer/ building technology, industrial technology and automotive technology. The automotive business accounts for more than half of the company’s total revenue in China.

The company will increase its exports by expanding its production capacity to take the advantage of China’s lower labor costs, according to Pang.

“We have strong plan for export,” said Pang. “But we are now too busy to meet domestic demand.”

Bosch also plans to expand its auto service network and has also launched a campaign to expand the Bosch Car Service (BCS) network which aims to set up 200 new service stations throughout China by the end of this year.

Bosch plans a massive rise in the number of Bosch Car Service network from the current 160 to 1,500 by 2013.

Copyright 2004 China Daily. via ProQuest Information .

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

Philips Announces Xperion 6000 LED Under Hood Work Light

It features a motion detection switch that allows mechanics to turn the light on and off with a wave of their hand.

Lumileds announced the Philips Xperion 6000 Under Hood LED Work Light, which it says is designed to help make auto service professionals more productive. This advanced LED work light features a motion detection switch that allows mechanics to turn the light on and off with a wave of their hand, so they can operate it without putting down tools or interrupting their work, the company said.

Stoneridge Releases Inaugural Sustainability Report

The report highlights the company’s progress on Environmental, Social and Governance initiatives.

Stoneridge Releases Inaugural Sustainability Report
ZF Expands SACHS CDC Shock Line for U.S., Canada

The release expands ZF’s line by more than 70 percent, reflecting growing demand for advanced damping technology in the aftermarket.

ZF expands line of SACHS CDC shocks for U.S. and Canada
Clarios to Supply High-Performance AGM Battery to Major OEM

It offers up to 80% reduction in CO2 emissions over traditional AGM batteries, in many cases, Clarios said.

Continental Tire Opens Retread Solutions Center in South Carolina

The company said it hopes to uncover new improvements and technologies to innovate the retread process.

Continental Tire Opens Retread Solutions Center in South Carolina

Other Posts

Philips Announces GoPure GP5212 Automotive Air Purifier

It uses a 3-layer filter to deliver cleaner, healthier, fresher air on the go, Lumileds said.

Akebono Introduces Severe-Duty Ultra-Premium Fleet Brake Pads

The brake pads are engineered to endure challenging conditions, delivering exceptional stopping power when it matters most, Akebono said.

Standard Motor Products Announces 123 New Numbers

The release provides new coverage in 53 distinct product categories and 47 part numbers for 2023 and 2024 model-year vehicles.

Standard Motor Products Announces 123 New Numbers
BBB Industries Releases Corporate Sustainability Report

This year, BBB set a goal to decrease its scope 1 and scope 2 emissions by 50 percent before 2027.

BBB Industries Releases Corporate Sustainability Report