Bosch believes AioT, electromobility and green hydrogen are the way forward

Technology and Services supplier, Bosch, is combining the internet of things (IoT) with artificial intelligence (AI) and believes electromobility will allow it to develop new business opportunities on the back of the profound technological and ecological changes currently occurring.
“Bosch came through the first year of the coronavirus pandemic well,” said Dr Volkmar Denner, the Chairman of the Board of Management of Robert Bosch GmbH, at the press conference to present the company’s 2020 annual report.
“We are one of the winners in the transition to electromobility, and we are significantly expanding our software business by tying in artificial intelligence.”
In powertrain technology, electromobility is establishing itself as Bosch’s core business. Dr Denner reported that the company is making heavy upfront investments in this area.
Currently, Bosch sales revenue from electrical powertrain components is growing twice as fast as the market, at almost 40 percent. The aim is to increase annual sales fivefold by 2025 and to break even one year earlier.
“Electromobility has long since ceased to be a bet on the future. Our upfront investments are now beginning to pay off,” Dr Denner said.

Hydrogen megatrend: fuel-cell market worth billions
Bosch is also focusing on a growth market for the hydrogen megatrend: the company believes the market for green hydrogen in the EU will be worth almost 40 billion euros by 2030 – with annual growth rates of 65 percent.
Fuel cells convert hydrogen into electricity, and Bosch is developing both stationary and mobile fuel-cell solutions. From 2021 to 2024, Bosch plans to invest one billion euros in fuel-cell technology.
“Bosch is already H2-ready,” Dr Denner said.
“The plan is to put 100 stationary fuel-cell plants into operation this year. They will supply electricity to users such as data centers, industrial manufacturers, and residential areas.”
Bosch estimates that the market for mobile fuel-cell components will be worth around 18 billion euros by the end of the decade and Dr Denner believes Bosch is in a good position here.
“We have what it takes to be a leader in this market as well.”
Bosch recently entered into a joint venture with China’s Qingling Motor Group to produce fuel-cell powertrains. A test fleet of 70 trucks is set to be on the roads before the end of this year.

CO2 reduction at Bosch: along the entire value chain
Bosch is pressing ahead with its own climate action targets as planned. Now that the climate-neutral status of the Bosch Group, with its more than 400 locations worldwide, has been certified, Bosch is giving concrete shape to its plans for what is known as Scope 3.
By 2030, it aims to reduce carbon emissions by 15 percent from its 2018 level along its entire value chain, from suppliers to customers – a reduction of 67 million metric tons of carbon dioxide emissions.
“Our efforts are sure to drive our product portfolio in the direction of energy efficiency or even technology change. In the future, a supplier’s or logistics provider’s carbon footprint will be one of the criteria for awarding new procurement contracts,” Dr Denner said.
“In terms of mitigating global warming, this will pay off.”

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