Bosch marked the fifth year anniversary of its automotive research and development centre in Vietnam, reporting tremendous growth.
|Bosch will increase its focus on automotive research and development centre in Vietnam |
Established in 2014 with an investment of more than $20 million today, the research and development centre (R&D) houses more than 70 engineers, specialising in developing innovative automotive technologies, products and solutions for both domestic and international markets.
Initially focused on researching automotive technologies as well as further developing the skills of the company’s workforce in Vietnam, the R&D centre has since expanded its scope to lead the product development of electrical components in the application of active safety and engine management systems. Apart from driving technological advancements for two of Bosch’s automotive manufacturing plants in Thailand and Germany, the centre has also started development collaboration with other similar Bosch locations in the Asia-Pacific, Europe, North and South America.
Vietnam is growing as an automotive powerhouse with upward demands for passenger vehicles and new mobility solutions. Developments are accelerated by encouraging infrastructure upgrades as well as stronger purchasing power. To this end, Bosch established the regional two-wheeler and power sports division in Vietnam in the middle of last year to address the fast-growing motorcycle industry. Based in Ho Chi Minh City, the division serves the company’s Southeast Asian hub for motorcycle expertise and capabilities. Continued investment within the country is also on the company’s agenda.
“As a key manufacturing and R&D location for Bosch global mobility solutions, strong investments into increasing the capacity and capability of our plants are essential to keeping our competitive edge besides meeting the growing demand for our products and solutions,“ said Guru Mallikarjuna, managing director of Bosch Vietnam Co., Ltd. “With the market dynamics moving rapidly, the challenge for us is to bring new developments to the market faster. Continued integration of our facilities with connected manufacturing helps make the processes smarter, smoother, and learner – resulting in shorter innovation cycles.”
Over the past ten years, Bosch has experienced tremendous growth in the country. For its 2018 fiscal year, the company recorded another year of strong double-digit sales growth. Bosch recorded €122 million ($137.8 million) in sales in Vietnam, up 20 per cent against 2017. Moving forward, the company will invest €86 million ($100 million) in Vietnam in the next five years.