Bosch expands into medical technology with 300 mn euro investment

Hyderabad: Bosch Group, a global technology and services provider, reports increased sales and earnings for 2023 despite challenging conditions. Stefan Hartung, chairman of Robert Bosch GmbH, emphasizes the company's focus on innovation, partnerships, and acquisitions to drive growth amidst economic headwinds. The company aims for long-term growth with average annual growth targets and a minimum margin of 7 percent.

Bosch expands into growth areas like medical technology, investing 300 million euros with new partners. The introduction of BioMEMS technology aims to revolutionize molecular diagnostics. Additionally, strategic partnerships accelerate the development of automated tests for bacterial infections.

Sales reached 91.6 billion euros in 2023, with an EBIT margin of 5.3 percent. While the outlook for 2024 remains subdued due to economic challenges, Bosch continues to invest in innovation and international expansion, including new factories in Egypt and Mexico.

The company's mobility sector focuses on electric vehicles, expecting significant growth in the coming years. Bosch also sees opportunities in hydrogen technology and heat pumps, aiming for substantial sales growth in these areas by 2030.

Despite global economic uncertainties, Bosch maintains its commitment to climate action and sustainable investments. The company's broad diversification across regions and industries strengthens its resilience and innovation capabilities.

With a workforce of over 429,000 associates worldwide, Bosch remains committed to its founding principles of long-term planning and financial independence. The company's unique ownership structure ensures its ability to undertake significant investments for the future.