Robert Bosch expects to generate sales of €2.6bn in China in 2009, representing a 15% increase compared to previous year’s sales.
Despite this increase, Bosch expects its worldwide sales to drop by about 15 percent to some 38 billion euros due to the global economic woes.
Speaking at a press conference held in Beijing to celebrate Bosch’s 100 years in China, CEO Franz Fehrenbach said globally it could take Bosch until 2012 to return to pre-recession sales levels.
“Personal mobility safety products, such as the ESP electronic stability program and ABS antilock braking system, are the major drivers of our business,” said Franz Fehrenbach, chairman of Robert Bosch GmbH.
“We expect the installation rate of ESP to triple, from 7 percent today to 22 percent by 2014.”
By the third quarter of 2009, 1 million ABS products were manufactured in Bosch’s Suzhou factory, a new record for a single year production.
Encouraged by the market potential for resource-saving and energy-efficient innovations, Fehrenbach said Bosch would expand its new energy related business in China.
Developing the electric car is the firm’s top priority, said Fehrenbach.
Bosch opened its first office in China in 1909. It currently has a work force here of 20,000 staff, the largest outside of Bosch in Germany.