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5. Bosch (China) Investment Ltd. Business Report FY ended Dec. 2022

Bosch (China) Investment Ltd. Business Report FY ended Dec. 2022

-The Bosch Group's sales in China in the fiscal year ended December 2021 increased by 9.1% from the previous year to CNY 128.6 billion (about EUR 16.7 billion).

Business partnerships

Wuxi National Hi-Tech Industrial Development Zone
-The Company signed a strategic cooperation agreement with the administrative committee of Wuxi National High-tech Industrial Development Zone. This move will accelerate its localization and commercialization of hydrogen fuel cells for mobile application and commercial vehicle electrification in China. Bosch launched its first production line of high-volume membrane electrodes assembly in Wuxi in early 2023, and plans for local production of bipolar plates in 2025. Bosch will start producing flat wire motors and all-in-one electronic power modules for light EVs in June 2023. Production of motors and controllers for medium and heavy-duty EVs is scheduled to begin in 2024. (From a press release dated March 25, 2023)

Weifu High-Technology
-Weifu High-Technology Group Co., Ltd. (Weifu Hi-Tech) announced that China’s anti-monopoly service has approved the company to establish a hydrogen fuel cell parts joint venture with Robert Bosch Internationale Beteiligungen AG (RBINT, a subsidiary of Bosch) and Wuxi High-Tech Zone New Energy Industry Development Fund (Limited Partnership). The new joint venture, named Wuxi Weifu Hydrogen Power Technology Co., Ltd., completed the procedures of business registration and was formally established. Weifu Hi-Tech and its subsidiary invested CNY 375 million (accounting for 75%), RBINT invested CNY 75 million (accounting for 15%), and New Energy Industry Development Fund contributed CNY 50 million (accounting for 10%). Weifu Hi-Tech directly and indirectly holds a 75% stake in the joint venture. (From a press release dated July 2, 2022)

Exhibitions and Motor Shows

Shanghai International Carbon Neutrality Expo 2023
-The Company announced its participation in Shanghai International Carbon Neutrality Expo 2023 (SICNE 2023) with diversified green technologies, where it set up exhibition areas for New Energy electric drive systems, steering systems and driving safety, recycling and short-distance green mobility, and autonomous driving empowering intelligent mobility. In terms of electrification, the CVT4EV (Continuously Variable Transmission for Electric Vehicles) and the eAxle system for all models were exhibited. In terms of mobility intelligentization, a next-generation modular braking system smaller in size and lighter in weight was exhibited. In addition, products for the automotive after-market, such as Bosch eXchange, were exhibited. (From a Bosch press release dated June 11, 2023)

Auto Shanghai 2023
-The Company participated in the Auto Shanghai 2023 event to be held from April 18 to 27. The company will exhibit its R&D achievements such as Intelligent Cockpit Technology Interaction Experience 4.0, Vehicle Dynamics Control 2.0, 190kW hydrogen power modules, as well as coaxial oil-cooled motors and all-in-one silicon carbide power electronics modules. In addition, Bosch’s replacement parts for the Chinese automotive aftermarket, such as diesel common rail injectors, after-treatment system urea nozzles, and engine control units, will be exhibited. Bosch also jointly exhibited a co-developed advanced intelligent driving solution with WeRide that provides advanced intelligent driving, driving-parking integration, and basic assisted driving features such as driving safety, comfort, and lighting. (From a Bosch press release dated April 14, 2023; a WeRide press release dated April 19, 2023)

2023 Haikou NEV Show
-The Company announced its participation in the 5^th Haikou International New Energy Vehicle (NEV) & Connected Mobility Show (2023 Haikou NEV Show) with multiple advanced technologies and products in the NEV and intelligent connected vehicle fields. At the show, Bosch exhibited a range of fuel cell products. Specifically, electronic air compressors and hydrogen circulation pumps for high-power fuel cells made their debut, of which the former has been put into operation, and the latter has achieved local mass production. Bosch also exhibited core fuel cell components such as stacks, multifunctional fuel cell power controllers, hydrogen supply modules and sensors, as well as a hydrogen power module with a rated power of 134kW and a 200kW fuel cell stack test bench. In addition, Bosch exhibited a range of key technologies for future electric intelligent mobility, such as the IPB intelligent integrated braking system, power electronic controllers, electric drive axles (e-axles), separated motors, and in-vehicle charging and power distribution units. (From a Bosch official WeChat account press release dated January 6, 2023)

Automotive and Intelligent Transportation Technology Innovation Experience Day
-The Company announced that the Automotive and Intelligent Transportation Technology Innovation Experience Day was held from November 14 to 15 at the Bosch (Donghai) Automotive Test & Technology Center in Lianyungang, Jiangsu. At the event, Bosch presented a number of forward-looking technologies and products covering intelligent driving, electrified mobility, intelligent cockpits and future-oriented electronic and electrical architectures. For intelligent driving, Bosch showcased its full-stack intelligent driving system solution tailored for the Chinese market that includes sensors, computing platforms, algorithm applications and cloud services. For positioning, Bosch presented its high-performance inertial measurement unit (IMU). For steering system, Bosch displayed the new CSER platform-based steering system featuring a D6 fully redundant control unit, which can meet the low demand for Level 4 and above Autonomous Driving. For braking, Bosch delivered a variety of modular product portfolio solutions, including the iBooster intelligent booster + ESP solution or the DPB intelligent decoupling and braking system + ESP solution. For electrified mobility, Bosch exhibited its dTCS (distributed Traction Control System), eDTC (engine Drag Torque Controller) and silicon carbide power semiconductors. For intelligent cockpits, Bosch showcased its 2^nd-generation intelligent cockpit domain controller and cockpit-parking integration solution controller. For future-oriented electronic and electrical architectures, Bosch presented its in-vehicle computing platform, zone control unit and VDC (Vehicle Dynamic Control) 2.0. (From a Bosch official WeChat account press release dated November 13, 2022)

5^th China International Import Expo
-The Company participated in the 5^th China International Import Expo (CIIE) held in Shanghai from November 5 to 10. The exhibits include Bosch China’s Advanced Intelligent Driving Solution, 400kW fuel cell system test bench, fully redundant electro-hydraulic power steering system, multifunctional fuel cell power controller and the ESP10 electronic stabilization program. Among them, Bosch China’s Advanced Intelligent Driving Solution will make its global debut. Developed locally by Bosch’s Cross-Domain Computing Solutions, the Solution is a full-stack intelligent driving system solution tailored for the Chinese market that include key technical elements such as sensors, computing platforms, algorithm applications, and cloud services, and is also scalable for the future. Based on a modular hardware and software design concept of flexibility and scalability, the Solution covers various application scenarios such as expressways, viaducts, urban areas and parking. Another product to make its global debut is Bosch’s 2nd generation intelligent cockpit domain controller, powered by Qualcomm’s 4th generation Snapdragon SA8295 digital cockpit platform chip, which can support up to 12 displays and 16 cameras. (From a Bosch official WeChat account press release dated November 4, 2022)

4th Western China International Fair for Investment and Trade
-The Company announced that Bosch Hydrogen Powertrain Systems (Chongqing) Co., Ltd., a joint venture with Qingling Motors, will exhibit its hydrogen power module products at the 4th Western China International Fair for Investment and Trade (WCIFIT). Among them, the 134kW hydrogen power module is an intelligent hydrogen power module product featuring high efficiency, high power, strong environmental adaptability, and long service life. With a rated power of 134 kW, it can realize cold start at the low temperature of -30°C. At the same time, the system is equipped with a high-speed oil-free centrifugal air compressor developed locally by Bosch. It helps realize energy recovery to ensure low-consumption operation. The peak efficiency can reach 63%. The hydrogen power module can be applied in various scenarios including logistics, passenger transportation, and long-distance transport in cities, branch lines and trunk lines. The 75kW hydrogen power module is more compact and lighter than the previous 70kW product. The peak efficiency has been increased to 62% and the volume has been reduced by 21%. It can be applied in light and medium-duty logistics, cold chain, and urban sanitation vehicles. The key technical indicators of Bosch’s hydrogen power module products have already met the technical requirements stipulated in the "Made-in-China 2025" Technology Roadmap ahead of schedule, and some products have even met the 2030 technical requirements. (From a press release dated July 21, 2022) 

2022 Haikou NEV Show
-Bosch China announced that it displayed an array of products at the 2022 Haikou International New Energy Vehicle & Connected Mobility Show (2022 Haikou NEV Show). These products include a dedicated fuel cell system solution for medium and heavy-duty commercial vehicles, a compact eAxle which combines the motor, power electronics and transmission in one system, the power electronic controller INVCON3U, an onboard charging and distribution unit, motor-generators, a thermal management system for electric vehicles, a steel pushbelt used in CVT4EV (pushbelt CVT for electric vehicles), an intelligent cockpit domain controller, an occupant monitoring system, a steer-by-wire system, a column electrical power steering system (EPSc), an innovative braking system, an upgraded version of Bosch’s fifth-generation millimeter-wave radar, fifth generation millimeter wave radar for commercial vehicles, a third-generation multifunctional camera including for commercial vehicles, and a test bench model for 150kW fuel cell stacks. (From press releases dated January 6, 2022 1/2)

New companies

-Robert Bosch Venture Capital GmbH (Bosch Venture Capital), a subsidiary of the Bosch Group, has completed a Series B+ investment in Guangdong Jinsheng New Energy Co., Ltd. (Jinsheng New Energy), a comprehensive supplier of power battery recycling solutions. (From a Bosch press release dated January 17, 2023)

-Robert Bosch Venture Capital GmbH (Bosch Venture Capital) has invested in the establishment of Beijing Kawen New Energy Vehicle Co., Ltd. (Kawen Vehicle) with Boyuan Private Equity Capital Management Company Ltd. (Boyuan Capital, a Bosch venture capital platform established in China), Beiqi Foton, Beijing SinoHytec Co., Ltd. and Shenzhen Fuyuan Smart Investment Partnership. Kawen Vehicle will focus on the R&D, production and sales of battery electric vehicles, hydrogen-powered commercial vehicles, and related core components and systems. The company also plans to develop drive-by-wire and intelligent driving technologies, such as intelligent connectivity, intelligent logistics and autonomous driving. (From a Bosch official WeChat account press releases dated January 9, 2023)

-Robert Bosch Venture Capital GmbH (RBVC) invested tens of millions of CNY in the Series A funding round of Electroder Ltd. (Electroder). Founded in 2019, Electroder focuses on developing digital tools and solutions for the EV battery industry. It is committed to empowering the entire lifecycle of battery design, manufacturing, and operation through a forward R&D process. Based on a proprietary "heterogeneous" underlying model, the lithium-ion battery SaaS (Software as a Service) design platform developed by Electroder upends the traditional trial-and-error battery development method, so that the development period of a new-type battery can be shortened to 6-8 months from 36 months, and saves around 50% in R&D costs. (From a press release dated August 8, 2022)

-Chongqing Runhe New Energy Automobile Co., Ltd., the first dual-brand authorized New Energy Vehicle repair station between CATL and Bosch Automobile aftermarket, officially opened. The dual-brand authorized maintenance station covers an area of about 2,400 square meters. It mainly provides comprehensive and professional maintenance services for New Energy Vehicles, and will focus on the research and practice of digital testing and maintenance technology for New Energy Vehicles. (From a CATL press release dated July 25, 2022)

R&D Facilities

-The Company has five R&D centers, one each in Shanghai, Wuxi, Suzhou, Chongqing, and Changsha. There are about 10,000 R&D personnel in China. In 2022, The Company invested CNY 10 billion in R&D in China.

-The Company announced that its wholly-owned subsidiary, Bosch Automotive Products (Suzhou) Co., Ltd., broke ground on the R&D and manufacturing site for NEV (New Energy Vehicle) core components and automated driving in Suzhou Industrial Park, China. With a total investment of around CNY 7 billion and a base covering 300,000 square meters, the first phase of the construction covers a construction area of more than 70,000 square meters, including a 66,000-square-meter production area, a 3,200-square-meter energy center, a 400-square-meter warehouse, and a 1,700-square-meter security zone. The construction is expected to be completed in mid-2024. The new base will focus primarily on electrified drive products with the latest SiC power modules, next-generation IPB2.0 intelligent integrated braking system, intelligent decoupling and braking system, as well as a variety of core autonomous driving technologies including Bosch China’s Advanced Intelligent Driving Solution. (From a press release dated January 12, 2023 and March 25, 2023)

-The Company announced that the Bosch Cross-Domain Computing Solutions (Shanghai) R&D Center has been officially inaugurated and opened. Located in Jinqiao, Pudong New District, Shanghai, the new R&D center has a total investment of more than CNY 150 million and an office area of over 10,000 square meters. In the future, more than 540 R&D staff will be engaged in the development of technologies in intelligent cockpits and advanced intelligent driving, especially software-related R&D. The Center is Bosch Cross-Domain Computing Solutions’ third and largest R&D center in China after the ones in the Suzhou Industrial Park and the Shanghai Hongqiao Linkong Economic Zone. (From a Bosch official WeChat account press release dated November 22, 2022)

Technical Center

Testing Center