(JW Insights) May 6 -- German tech giant Robert Bosch saw its sales revenue grow by nearly 3% over the previous year to RMB132.1 billion ($19.11 billion) in China in 2022, the company announced on May 4.

The sales of Bosch's mobility solutions unit hit a record of over RMB100 billion ($14.47 billion) for the first time in the country thanks to China's surging demands in the automotive industry, China Daily reported.

Chen Yudong, president of Bosch China, said “China has enormous potential in the areas of intelligent, electrified mobility, smart manufacturing and carbon neutrality, offering many business opportunities.”

To capitalize on the local business potential, Bosch invested RMB50 billion ($7.23 billion) in China over the past 10 years, said Chen, adding the group's research and development expenses amounted to RMB10 billion ($1.45 billion) in the country in 2022.

The German company currently operates 34 manufacturing sites and 26 technical centers in China, employing over 58,000 associates, including nearly 10,000 researchers and project developers, China Daily reported.

(Yuan XY)