Bosch Group to Invest Rs 1,700 Crore Investment in India
A German multinational engineering and electronics company, Bosch Group is planning to meet the rising demand for its technology and services in the automobile and mobility sectors and for that, it is ready to invest approximately Rs 1,700 crore in India.
The chief executive officer Volkmar Denner said, “We have invested ₹ 370 crores in the past three years,” he told correspondents in Bengaluru, where the company’s subsidiary Bosch India, is headquartered.” Further, he added, “A major share of this will be used to expand Bosch’s smart campus in Adugodi and modernize manufacturing facilities in the country.
Volkmar Denner said at the press conference that the automaker will boost investments in self-driving tech, electric vehicles, diesel engines and artificial intelligence.
Even, the company plans to spend additional Rs 600 crores to revamp one of its manufacturing facilities in Bangalore. And the report stated that the company eyes on advanced technologies such as the Internet of Things and many more.
India has become the world’s fourth-largest after overtaking Germany, however, there was an increasing demand for connected mobility in the automobile market. In the country, a new business division would work to develop a global telematics platform that would be enabled by the engineering talent.
Apart from all these things, Bosch India has shaken hands with IIT-Madras to set up a Robert Bosch center for AI and data sciences. Last year, the Indian unit earned revenue of ₹ 10,842 crores.
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