15:45 | 02/07/2019 Companies
(VEN) - Since its inception in 2007, Bosch has been investing in research and development (R&D) as well as human resources development in Vietnam. Continuously strengthening its local footprint and operation has been of strategic importance for Bosch and a vital part in the company’s success.
Bosch Automotive Research and Development Center: Five years of tremendous growth
Bosch will be celebrating the fifth year anniversary of its automotive research and development center in Vietnam on Tuesday, 2nd July 2019 at Deutsches Haus, 33 Le Duan, Ben Nghe, Ho Chi Minh, Vietnam. Established in 2014 with an investment of more than USD 20 million (17 million euros) to date, today, the R&D center houses more than 70 engineers, specializing in developing innovative automotive technologies, products and solutions for both domestic and international markets.
Initially focused on researching automotive technologies as well as on further developing the skills of the company’s workforce in Vietnam, the R&D center has since expanded its scope to lead the product development of electrical components in the application of active safety and engine management systems. Apart from driving technological advancements for two of Bosch’s automotive manufacturing plants in Thailand and Germany, the center has also started development collaborations with other similar Bosch locations in Asia Pacific, Europe, North and South America.
Bosch business development in Vietnam
Over the past ten years, Bosch has experienced tremendous growth in the country. For its 2018 fiscal year, the company recorded another year of strong double-digit sales growth.
Vietnam is also growing as an automotive powerhouse with upward demands for passenger vehicles and new mobility solutions. Developments are accelerated by encouraging infrastructure upgrades as well as stronger purchasing power. To this end, Bosch established the regional two-wheeler and power sports division in Vietnam mid of last year to address the fast-growing motorcycle industry. Based in Ho Chi Minh City, the division serves as the company’s Southeast Asian hub for motorcycle expertise and capabilities. Continued investment within the country is also on the company’s agenda.
“As a key manufacturing and R&D location for Bosch global mobility solutions, strong investments into increasing the capacity and capability of our plants are essential to keeping our competitive edge besides meeting the growing demand for our products and solutions.“ adds Guru. “With the market dynamics moving rapidly, the challenge for us is to bring new developments to the market faster. Continued integration of our facilities with connected manufacturing helps make the processes smarter, smoother and learner – resulting in shorter innovation cycles.”