Bosch to build $1 billion electric vehicle parts plant in China
Jan. 25, 2023
The facility will be used for research and development of electric vehicle parts, as well as development of automated-driving technology.
Bosch is investing $1 billion to build a new facility in Suzhou, China, to manufacture parts for electric vehicles. Bloomberg is reporting that the facility will be used for research and development of electric vehicle parts, as well as development of automated-driving technology. According to Reuters, the 300,000-square-metre plant will be Bosch's fifth factory in Suzhou and will be partially operational in 2024.
Bloomberg is reporting that Stefan Hartung, chairman of the board of management of Bosch, said "China is the world’s largest auto market, full of promise and vitality. As a multinational enterprise, we need to make full use of the country’s local R&D capability and production capacity."
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