Germany's Bosch Group broke ground on its R&D and manufacturing site for new energy vehicle core components and automated driving on Saturday in Suzhou, east China's Jiangsu Province.
With a total investment of over 1 billion U.S. dollars, the project will focus on the R&D and production of new energy vehicle core components and multiple core technologies for automated driving, which is expected to contribute to the transformation and innovative development of Jiangsu's automobile industry.
A global supplier of auto technology and services, Bosch has a strong foundation for collaboration with Jiangsu. Cao Lubao, Party chief of Suzhou, said the commencement of the new project demonstrates Bosch's confidence in the prospects of the Chinese market and Suzhou's development, which can boost the supporting capacity and core competitiveness of Suzhou's automobile industry.
Bosch Group has been operating in Jiangsu for over 20 years, developing more than 10 enterprises. Stefan Hartung, chairman of the board of management of Bosch, said they are bullish on the prospects of the Chinese market, and will continue to strengthen industrial investment, technological research and talent cultivation.