Bosch to Invest EUR850m in China
Germany's Bosch Group will double its investment to EUR850m in China by
2010, according to Rudolf Colm, Head of Bosch Asia Pacific. The
company's sales rose 41 per cent, to 18.3 bn, in 2007 compared with a
year earlier. Bosch generates half of its revenue from its automotive
division. In future, the company says it will invest larger sums in new
technologies, such as gasoline direct-injection systems and hybrid auto
parts.
BASF Ups China Sales to EUR4.4 bn
BASF, Europe's largest chemical company, has said its sales in the
Greater China Region rose to EUR4.4 bn in 2007, up over 20 per cent
year-on-year. The German company generates close to 50 per cent of its
Asia Pacific sales in China. Earlier this month, BASF announced that it
supplies diesel particulate filters for more than 2,500 transit buses
in Hong Kong as part of a diesel retrofit programme. It is the first
large-scale commercial use of diesel particulate filters in the city,
Automotive World reports.
Daimler Exports China-made Vans
Germany's Daimler
AG plans to export China-made vans to other Asian countries by 2009,
according to Ling Yuzhang, Chairman of Daimler's partner company Fujian
Motor Industry Group. The joint venture between the Chinese and the
German carmakers will export up to 6,000 vehicles per year by 2009.
PSA Peugeot Citroen Opens R&D Centre in Shanghai
French automaker PSA Peugeot Citroen's new RMB1 bn Shanghai R&D
facility will open in September. The facility will employ 500 engineers
in design, research and procurement departments. A company spokeswoman
said the centre is aimed at helping boost yearly car sales from 209,000
in 2007 to a targeted one million in 2015.
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