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Jul 19, 2023Bosch To Focus On Shifting Production Of Items To India
Dec 06, 2023Bosch Ltd. has shifted production of certain items from Russia and China to India as auto components manufacturer focuses on India.
"There have been some shifts of our production out of Russia," Guruprasad Mudlapur, managing director at Bosch, said in the Q1 earnings call. The spark plugs that the company made in Russia have been moved out and relocated to India, a move that will push local production, he said.
The company has a widespread e-Axle portfolio globally. "Now, the market in India is in a formative phase and we are basically trying to align (the) best portfolio that we have globally to the requirements regionally in India, and this is going to take time," said Sandeep N, joint managing director at Bosch.
The company has planned Rs 450-crore capital expenditure for the current fiscal, mainly on plants, machinery and equipment. "We are investing and going ahead with the localisation," Chief Financial Officer Karin Gilges said.