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Further expansion of activities in India - Bosch and Igarashi Motors India establish joint venture

 
 
 

Contacts


Sanjay Chakravarty
Phone: +91 (80) 22 99 6168

 

2008-02-15 | India | Corporate News

  • Development, manufacture, and sale of automotive components forgrowing Indian automotive market
  • With 51 percent shareholding, Bosch has industrial leadership
  • Start of production in Chennai, India, in second half of 2008
  • Roughly 100 associates to be working in Chennai by end of 2008

Stuttgart/Germany and Chennai/India - Robert Bosch GmbH and Igarashi Motors India Ltd. (IMIL) have established a joint venture. The new company will start operations in the second half of 2008 for developing, manufacturing and selling DC Motors and Systems for Wiper, HVAC, Engine Cooling and Window lift applications for the fast growing Indian automotive market. The joint venture will be headquartered in Chennai, India. With a 51 percent shareholding, Bosch will have the industrial leadership in the joint venture and IMIL will hold 49 percent of the shares. By the end of 2008, it is planned that the joint venture will employ roughly 100 associates.

“With this joint venture, we are expanding our range of products manufactured locally in India. In this way, we offer our local customers the best possible support in the further motorization of India,” said Mr. V K Viswanathan, Managing Director of Bosch Limited and Bosch representative in India. Dr. K.K. Nohria, Chairman of Igarashi Motors India Ltd., said: “Technologically, Igarashi and Bosch are a perfect fit, with each one’s strength complementing the other. Together, we want to exploit the market potential of DC motors and other automotive components in the Indian market.”

In India, Bosch employs some 18,000 associates. Its sales with customers in India increased by nearly 20 percent in 2007 to roughly 815 million euros. The company has been manufacturing in India since 1954, and now has eleven manufacturing sites and four development centers in the country. Igarashi Motors India Limited (IMIL) is a publicly listed company,headquartered in Chennai. Its roughly 1,200 associates generated sales of some 70 million US-dollars in 2007. The company develops, manufactures, and sells DC motors for application in the automotive and non-automotive fields. IMIL commenced regular operations in India from 1995 and its majority shareholding is by the Igarashi family from Japan who has been in the business of Electric motors for over 50 years.

About Bosch Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 390,000 associates worldwide (as of December 31, 2016). According to preliminary figures, the company generated sales of 73.1 billion euros in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to create solutions for a connected life, and to improve quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 450 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 120 locations across the globe, Bosch employs 59,000 associates in research and development.

Additional information is available online at
www.bosch.com
www.iot.bosch.com
www.bosch-press.com
twitter.com/BoschPresse

About Bosch in India

In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions. The Bosch Group operates in India through nine companies, viz, Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances Private Limited, ETAS Automotive India Private Ltd. and Robert Bosch Automotive Steering India Pvt. Ltd. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 15 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 30,000 associates and generated consolidated revenue of about ₨.17,022 crores in 2015 of which ₨. 12,100 crores from third party. The Group in India has close to 14,000 research and development associates.

In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 10,415 crores (1.4 billion euros) in 2015-16.

Additional information can be accessed at www.boschindia.com