Bosch will invest around €950 million in the development and production of components for electromobility and automated driving in Suzhou, China. Tthe first phase of the project in the eastern city of Suzhou will be completed by mid-2024.

Bosch already has four factories in Suzhou employing nearly 10,000 people.

Earlier this month, Robert Bosch Venture Capital Company jointly invested with Boyuan Capital, BAIC Futian, Beijing Yihuatong and Shenzhen Fuyuan Wisdom— a venture capital platform established by Bosch Group in China—to establish Beijing Kawen New Energy Vehicle Co., Ltd.. The company will be committed to the research and development, production and sales of pure electric and hydrogen fuel commercial vehicles and related core components and systems.

The company also plans to develop remote control and intelligent driving technologies, such as intelligent networking, smart logistics and autonomous driving.