Bosch to invest Rs.2,200 crore to ramp up productionJanuary 4th, 2012 - 7:31 pm ICT by IANS
New Delhi, Jan 4 (IANS) German automotive components manufacturer Bosch Wednesday said it would invest Rs.2,200 crore over two years (2012 and 2013) to expand capacity and develop new technologies for the growing Indian market.
“This investment along with plans for expansion and development of new technologies are testimony to our commitment to the Indian market,” Chairman Bernd Bohr said.
“This year alone, automotive production in India is set to grow about 11 percent. In the backdrop of such developments, Bosch would like to contribute and be part of the India growth story.”
The company is currently expanding its operations at its Nashik, Jaipur and Ahmedabad facilities as well as building a new electrical drives plant in Chennai, which will begin operations this year.
The company is also setting up a new plant in Ahmedabad, which is expected to be functional by the first quarter of 2012.
Bohr said Bosch’s new technologies would focus on fuel economy and safety features.
“Significant amount of work is being implemented in the field of safety systems. By 2015, 90 percent of all new vehicles worldwide will be fitted with Anti-lock Braking System (ABS).”
Currently the ABS is used in passenger cars, utility vehicles, sports utility vehicles and two-wheelers.
The company said it expected sales in India would be of Rs.11,000 crore in 2011.
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