Bosch's China sales robust

SHANGHAI: Germany's Bosch Group, a leading automobile components maker, said yesterday that sales growth in China last year was robust despite falling global sales due to the economic downturn.

Bosch's China sales touched 22.8 billion yuan ($3.34 billion) in 2008, a rise of 25 percent over the previous year, said Peter Pang, president, Bosch China Investment Ltd, at a press conference during the ongoing 2009 Shanghai auto show.

The global economic slowdown, coupled with a sharp appreciation of the euro, dragged down Bosch's global sales to roughly $58.2 billion in 2008, a drop of 2.8 percent over the previous year.

During the conference, Pang also hailed China's recent plan to increase production of vehicles that run on alternative fuels.

"Bosch has a complete range of components and products for hybrid-electric and full-electric vehicles. We are in the best position to support our customers in fulfilling their targets for new-energy vehicles," he said.

China in March set a target to increase the production of new energy vehicles to touch 500,000 units by 2011, accounting for 5 percent of the annual automobile production of the country.

Pang revealed that Bosch would soon introduce its lithium-ion batteries for hybrid and electric vehicles in China. The company had established a joint venture with Samsung last year to develop those batteries.

Uwe Raschke, a Bosch board member in charge of the Asia-Pacific region, said China's growing automobile sector is pushing the company to invest more in the country.

"The Chinese automotive market is the only major one in the world which is growing currently, and we believe it will further grow this year," said Raschke.

He said Bosch would focus on cost cutting and product innovation to weather the effects of the economic downturn.

By 2008, Bosch had invested a total of 3 billion yuan in China. The company currently employs 20,200 employees in its 44 units in the country, the largest outside Germany.

At the Shanghai show, Bosch exhibited its innovative technologies, including gasoline and diesel engines, as well as a full range of components and solutions for new energy vehicles, including electric motors, power electronics, and converters.

Questions:

1. Germany's Bosch Group is involved in what type of business?

2. What is the name of the other company that Bosch is working with to create batteries for electric cars?

3. How many people does Bosch currently employ here in China?

Answers:

1. It is a leading automobile components maker.

2. Samsung.

3. 20200 approximately.