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SiC boost for Bosch

Business news |
By Nick Flaherty

The Bosch Group increased its sales significantly in 2021, driven by its emerging e-mobility and silicon carbide businesses.

As a major supplier to the automotive industry, it has been hit by the decline from chip shortages. Despite this, total sales rose 10 percent to €78.8bn.

“We are generating billions in sales with electromobility. We’re also growing at double-digit rates with heat pumps for the home, and electrical drives are making inroads in industrial technology,” said Dr Stefan Hartung, chairman of the board of management of Robert Bosch.

Since the end of 2021, the company has been manufacturing silicon carbide power devices, and by 2024, the company plans to invest more than €400m in stationary solid-oxide fuel cell (SOFC) technology and a further €600m in mobile fuel cells.

Bosch has also entered the factory equipment business for battery production with Volkswagen. “Our common goal is for a European supplier to be the cost and technology leader in the volume production of battery technology,” said Hartung.

Bosch also intends to expand its position in software development for vehicles. The Mobility Solutions business sector already equips vehicles worldwide with more than 200 million control units running its proprietary software each year. The company expects the market for automotive software to reach a volume of some 200 billion euros by 2030.

“Bosch will see double-digit growth in this market,” said Dr. Markus Heyn, the new chairman of the Mobility Solutions business sector and member of the board of management of Robert Bosch GmbH. “Here we will benefit in no small part from the evolution of the car into an internet node.”

Bosch expects the global economy to grow between 4 and 4.5 percent in 2022, as against 5.5 percent in 2021 as Covid-19 continues to bite.

In addition, ongoing supply bottlenecks and rising prices for raw materials, primary products, and transportation will have a major impact on the global economy and affect the business of many sectors, especially the automotive industry. The marked rise in inflation in many sectors and regions is also clouding the outlook. Provided the business environment is not disrupted further, the Bosch Group expects to grow its sales in 2022.

www.bosch.com

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