Germany's Bosch inks strategic cooperation project agreement with east China city

NANJING, March 25 (Xinhua) -- Germany's Bosch Group on Saturday signed a strategic cooperation project agreement with Wuxi high-tech zone in the eastern Chinese city of Wuxi to further promote the localization and commercialization of Bosch's hydrogen fuel cells and electric products for commercial vehicles.

Photo: Agencies

Du Xiaogang, Party chief of Wuxi, Jiangsu Province, said that he hoped both sides could work together to focus on fields like new energy and the Internet in vehicles to promote win-win development of industrial, supply, and innovation chains.

Stefan Hartung, chairman of the board of management of Bosch, said that the company's success in Wuxi is closely related to the rapid growth of the Chinese automotive market in recent decades.

He said that Bosch will invest 3 billion euros (about 3.23 billion U.S. dollars) globally to meet the growing demand for carbon-neutral technologies and accelerate the delivery of hydrogen fuel cells and hydrogen and electrification solutions for vehicles in the future. Cooperation with Wuxi is an important step on Bosch's strategic path.

Since it entered Wuxi in 2004, Bosch has developed its powertrain, automotive systems, automotive electronics, and other businesses in Wuxi. The city aims to build a 200-billion-yuan (about 29.25 billion U.S. dollars) level new energy industry cluster.