German auto parts major Bosch is eyeing expansion and has planned to invest around Rs. 598 crore in Southeast Asia this year. This move comes shortly after Bosch expanded and invested more in its facility in Bangalore, India.
Peter Tyroller, the member of the board, responsible for Asia Pacific said, "Southeast Asia is an important region for the Bosch Group. To support growth in the region, we are planning to invest around 80 million euros in Southeast Asia this year."
During the first half of this year, Bosch opened new offices in the Philippines and in Indonesia, with the aim of increasing the company's reach to its customers. The German company is looking at further strengthening its manufacturing in the region and plans to expand its Mobility Solutions plant in Malaysia and Vietnam.
Bosch is also looking at opening a plant in Thailand. In the past decade, Bosch has invested around Rs. 3,739 crore in Southeast Asia, to expand its manufacturing and development in the region. Bosch has also launched its first international corporate campaign in the region to strengthen its brand communication.