Bosch sees China sales revenue grow by 3% to $19b

Robert Bosch GmbH, the German industrial and technology group, saw its sales revenue grow by nearly 3 percent on a yearly basis to 132.1 billion yuan ($19.11 billion) in China in 2022, according to a statement released by the company.

Thanks to China's surging demands in the automotive industry, the sales of Bosch's mobility solutions unit hit a record of over 100 billion yuan for the first time in the country.

Chen Yudong, president of Bosch China, said China has enormous potential in the areas of intelligent, electrified mobility, smart manufacturing and carbon neutrality, offering many business opportunities.

To capitalize on the local business potential, Bosch invested 50 billion yuan in China over the past 10 years, said Chen, adding the group's research and development expenses amounted to 10 billion yuan in the country in 2022.

The German company currently operates 34 manufacturing sites and 26 technical centers in China, employing over 58,000 associates, including nearly 10,000 researchers and project developers.