Bosch group, the Germany-based auto component and technology company, plans to invest Rs 2,200 crore in India over the next couple of years.
“Between 2012 and 2013, the Bosch group plans to invest some Rs 2,200 crore in India,” said the company Chairman, Berd Bohr at the Delhi Auto Expo.
The German-based company is also expecting its sales to reach Rs 11,000 crore in 2011 in India. Meanwhile, its global sales are likely to touch euro 50 billion, Bohr added.
According to VK Viswanathan, MD of Bosch, automotive production in India is likely to grow about 11 per cent. “We want to focus is on small cars and low cost components,” he said.
Bosch plans to expand its presence in India. The company is building a new plant in Chennai for electrical drives. It also has another plant in Ahmedabad in its pipeline, the company announced. The plant in Chennai will be ready to open this year, it said.
“With a floor area of 37000 sq. m, the plant is expected to be functional by the first quarter of 2012,” said the MD of Bosch’s India arm.
Moreover, the company announced plans to expand production area by additional 33,000 square meters in a bid to cope with the increased demand.
Bosch is working to increase the range and reduce the cost of key components.
“By 2013 will be working on 21 projects for 12 auto makers,” said Bohr.
The domestic auto segment is also seeing a rise in demand for diesel cars.
The company MD, however, said that it has taken this demand into account. “Bosch is prepared to deal with the demand for diesel engines,” said Viswanathan.
With respect to exports, the company has crossed the Rs 1,000 crore mark in terms of product exports.
“We will keep a high focus on export. Export can grow to double digit,” said Viswanathan.
Meanwhile, Berd Bohr expects global sales in the automotive technology vertical to cross euro 30 billion in 2011.
Bosch had invested euro 3.3 billion in research and development (R&D) in this vertical.
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