Bosch posts sales growth, looks to recovery in China

FRANKFURT, Feb. 3 (Xinhua) -- Bosch boosted its sales by over 10 percent in 2022, and is looking ahead to a rebound of business in China, the company said on Friday.

Bosch's preliminary financial results for the year 2022 show that the company's total sales came to 88.4 billion euros (95.4 billion U.S. dollars), up by 12 percent year on year. Taking the exchange rate into account, sales grew by 10 percent.

Bosch's business falls into different fields including mobility solutions, industrial technology, consumer goods, and energy and building technology. Mobility solutions posted the strongest growth of 17 percent in 2022.

Europe was the largest market for Bosch in 2022, with sales of 44.8 billion euros, followed by Asia Pacific with sales of 27.5 billion euros.

While 2023 so far appears to be a challenging year, with a possible economic slowdown ahead, Bosch is looking to a recovery in China as the pandemic wanes.

The company recently announced it will invest some 950 million euros over the next decade in an engineering and manufacturing center in Suzhou, China, to create mobility solutions and products in the areas of electrification and automation.

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