Bosch's new R&D center inaugurated in SIP
Bosch, a German multinational engineering and electronics company known as the world's largest supplier of automotive components, inaugurated its biggest R&D center in SIP on Sept 6. The project, with a total floor area of 34,000 sqm, costs over RMB 330 million. It will serve as a powerful engine for the company's operations in China.
Bosch, one of the Fortune 500 enterprises, has 62 branches across the country, with total annual sales of RMB113.4 billion, making China its second largest market worldwide. Bosch Auto Parts (Suzhou) Co Ltd was erected in SIP in 1999, encompassing three factories and three office buildings for automotive component manufacturing, R&D and financial, technical and HR services.
Volkmar Denner, chairman of Management Board and CEO at Robert Bosch GmbH, deemed the new center as a "milestone in the Chinese market". "We need localized solutions to meet the local market demands. We hope to have more chances to work with local professionals in our projects," he said.
September 6, 2018