Bosch To Invest Rs 1,700 Crore In India Over Three Years
Bosch Plans To Invest Rs 1700 Crore In India By 2021
German auto parts maker Bosch’s manufacturing facility in Bengaluru will be the fulcrum of its India expansion plans.
The company — which plans to invest Rs 1,700 crore over the next three years in India to build artificial intelligence-enabled products and modernize manufacturing facilities — will revamp its Bengaluru facility into a technology hub.
“We have planned an additional investment of Rs 600 crore for the Bengaluru facility in Adugodi,” Volmer Denner, chairman of the board of management of Bosch Group, told reporters in Bengaluru today. The Adugodi facility is Bosch’s largest outside Germany, where it has already invested Rs 370 crore over the last three years.
Denner, who is visiting India after nearly four years, said the company will enhance its capabilities in the domains of connected mobility, internet of things and artificial intelligence to drive growth.
“Artificial intelligence will be crucial in all areas of connectivity and a key component of Bosch products,” he said. “Our products will either possess that intelligence, or AI will have played a key role in their development or manufacture.”
The company invested 300 million euros (about Rs 2,300 crore) in setting up Bosch Centre for Artificial intelligence across three continents. The Bengaluru centre played a key role in this initiative.
The company has also partnered with IIT-Madras to set up the Robert Bosch Centre for Data Science and Artificial Intelligence at the institute to which it will provide an annual funding of Rs 4 crore over the next five years. Bosch says that nearly 18,000 out of its 31,000 associates working in India are involved in research and development.
“With a promising future for the automotive market in India, we’re confident of our continued growth here,” Denner said.