Skip to main content

Bosch to invest €3bn in new energy

Group says it expects hydrogen technology to be developed along with electromobility
By Adam Hill May 5, 2022 Read time: 2 mins
The Bosch board: 'Hydrogen-based solutions also need to gain more momentum' (image credit: Bosch)

Bosch says it is to invest €3 billion over three years in climate-neutral technology such as electrification and hydrogen.

Unveiling its 2021 results, the group said its mobility solutions business saw a 7.6% increase in sales to €45.3 billion, providing the largest share of an overall €78.7bn revenue.

“Mobility solutions is particularly exposed to chip shortages and is having to prepare for profound changes in mobility,” said chief financial officer Markus Forschner.

“At the same time, the sector is making substantial upfront investments in electromobility and automated driving, and has already had to assume significantly higher costs for raw materials and logistics.” 

Bosch chairman Stefan Hartung believes electrification is the fastest route to climate neutrality, provided it is based on green electricity.

In 2021, the company’s orders relating to electromobility exceeded €10bn for the first time - but it says hydrogen technology will also be important.

“Industrial policy should focus on making all sectors of the economy hydrogen-ready,” he said.

“Electricity-based solutions have priority, but hydrogen-based solutions also need to gain more momentum. We’ll need both if we are to live sustainably on our blue planet.” 

Bosch expects the EU’s Green Deal to provide a boost to the electrification of road traffic.

Markus Heyn, chairman of the mobility solutions business sector, said: “Bosch sees itself as the number one supplier for electrical powertrains on the road.”

For electric mobility based on fuel-cells, this year Bosch will start production of fuel cell powertrains for trucks. 

For more information on companies in this article

Related Content

  • Mobile EV chargers coming to London 
    February 25, 2022
    L-Charge and 4xxi say off-grid trucks can charge a regular car for 60 miles 
  • UK puts £3bn into new bus strategy
    March 16, 2021
    Daily fare caps, plus better coordination of multimodal services, are promised
  • Canadian government invests in zero-emission vehicles
    April 23, 2019
    The government of Canada says it is to invest CAN$300 million over three years in zero-emission vehicles. Marc Garneau, minister of transport, says: “The Government of Canada is working to accelerate the adoption of zero-emission vehicles to help make it easier for Canadians to be part of the solution to climate change and to reduce their daily driving costs.” The federal purchase incentive is part of this year’s budget and applies to vehicles that are purchased or leased on, or after, 1 May. To be eli
  • Stakeholders lobby EU for electrification of transportation
    February 11, 2015
    Ahead of its discussion on the European Union’s key priorities for the next decade, seven stakeholder organisations from industry, transport and cities have written to the College of the European Commission regarding the creation of a European Energy Union with a forward-looking climate change policy. They called on the commissioners to focus on the transport sector, which represents about a third of the EU’s overall energy consumption and is almost exclusively dependent on imported fossil fuels. The let