Bosch focuses on growth in United States

Associated Press

14-05-2025

Detroit, May 14, 2025 (GLOBE NEWSWIRE) --
Detroit – Despite market headwinds, Bosch posted sales growth in the North American market of nearly five percent increase year-over-year in 2024. The company posted consolidated sales of $17.3 billion USD (16 billion euros) and achieved total net sales of $18.6 billion USD including sales of non-consolidated companies and internal deliveries to affiliated companies. The North American region achieved the largest sales increase globally for the Bosch Group in 2024, emphasizing the company's focus on the region and particularly the U.S. market as part of achieving regional balance globally.
'We are growing our North American – and specifically our U.S. business – rapidly,' said Stefan Hartung, chairman of Bosch. 'By 2030 our ambition is for the North American region to represent 20 percent of the company's global sales, with the U.S. representing the majority.'
Over the past five years, Bosch has invested more than $2 billion in capital expenditures in the United States. This represents more than 75 percent of the company's capital expenditures in the North American region over that time. Additionally, since 2023 the company has announced plans to invest around $6 billion in U.S.-based acquisitions.
'Bosch is investing to grow in the U.S. market,' said Paul Thomas, president of Bosch in North America and president of Bosch Mobility Americas. 'We have specifically developed regionally relevant products and solutions for this market. We see opportunities to increase our market share and achieve profitable growth across our portfolio.'
Bosch has been in the United States since 1906 and will celebrate its 120-year anniversary in the U.S. in 2026. Today the company employs more than 20,000 associates and currently has 15+ manufacturing sites in the United States. Both number of associates and number of U.S. manufacturing sites are expected to grow in 2025 as a major planned acquisition is closed.
'We recognize the economic importance of the U.S. market, including its resilience and innovation leadership,' said Stefan Hartung, chairman of Bosch. 'While our goal is to increase regional balance through investment and growth, we also need a favorable and stable trade environment.'
Growth in North America
For the 2024 business year, Bosch posted sales increases in three of its four business sectors in the North American portfolio.
Continued support of ICE, growth in SDV, ADAS, vehicle motion and hybrid
In its largest business sector, mobility, Bosch continues to expand its product portfolio matched to the major trends in mobility in the U.S. The company continues to invest in and book customer wins related to technologies supporting regional needs such as software-defined vehicle (SDV), advanced-driver assistance systems (ADAS), hybrid technology, vehicle motion control and more.
In the area of powertrain, the company's broad portfolio of technology-neutral powertrain solutions has benefitted it as market changes have come at a different pace than projected. Bosch has continued to innovate on internal combustion engine (ICE) technology, including technology to support hybrids. Bosch sales of ICE-related technology in North America have remained steady, largely because the company has maintained this revenue while production of ICE vehicles decreases and BEV vehicles increases. At the same time, the company also supports customers with battery electric and hydrogen solutions, where Bosch provides both fuel cell and hydrogen combustion technology.
'Our goal is to provide manufacturers and ultimately the U.S. consumer with affordable options in the market,' Paul Thomas said. 'Across the Bosch Mobility portfolio, our technology leadership is realized through the experienced U.S. mobility manufacturing workforce at nine locations in the U.S. in California, Indiana, Kentucky, Michigan, Minnesota and South Carolina.'
Bosch continues to progress on plans to manufacture the second-generation silicon carbide (SiC) chips on 200mm wafers in Roseville, California beginning in 2026. The transformation of the Roseville facility, which the company acquired in 2023, represents an up to $1.9 billion investment. Since the acquisition of the site, Bosch has retained nearly all 250 associates during the transformation process as it prepares for the 2026 launch of SiC production. The company has provided advanced training where the Roseville team learns from other sites within the Bosch global manufacturing network.
A major driver of growth in 2024 for Bosch Mobility in North America and particularly the U.S. was the Cross-Domain Computing Solutions division that delivers solutions such as ADAS and vehicle computers to support an increasingly software-defined focus from U.S. automakers. To facilitate rapid development in ADAS – particularly Level 2 and Level 2++ – Bosch has expanded its software and hardware for assisted and automated driving.
For the new generation of its radar sensor, Bosch has developed and manufactured all core elements in-house, including the computing chip (SoC). The new Bosch radar sensor uses 'RF CMOS technology,' which enables the efficient integration of high-frequency and digital circuits on a single chip. The structure size of the transistors of only 22 nanometers makes the chip particularly powerful and efficient despite its small footprint. Bosch is the first Tier 1 supplier on the market to introduce this technology in serial production.
Bosch continues to expand its ADAS expertise beyond passenger cars. In the U.S., it just signed a major award with the Southeastern Pennsylvania Transportation Authority (SEPTA) to install the tram forward collision warning system from Bosch across the entire SETPA fleet through a retrofit to existing trams. SEPTA serves a region of nearly four million people in Philadelphia and its surrounding counties. This expansion follows a successful pilot program that began in 2022 to initially test out the collision avoidance technology in four SEPTA tram vehicles.
Growth initiatives beyond Mobility
Outside of its Mobility business sector, Bosch growth initiatives in the U.S. are also evident.
In February, Bosch was a first-time advertiser at the Big Game, where it debuted the new 'The More You Bosch, The More You Feel Like A Bosch' campaign featuring power tools and home appliances from the company's Consumer Goods business sector. The Big Game presence marked the beginning of a multi-year campaign that will feature seven product ads and a full lineup of 'Bosches' who represent the physical manifestations of the confidence, strength and power you feel with Bosch products. The company is already seeing gains from the U.S.-focused brand campaign.
In 2024, the company announced plans to acquire the HVAC solutions business for residential and light commercial buildings from Johnson Controls. The product portfolio covers the entire spectrum of HVAC solutions for residential and light commercial buildings, and includes well-known brands such as York and Coleman in the U.S. The proposed acquisition is expected to close during 2025.
Bosch Group: outlook for 2025 and strategic direction
The Bosch Group is continuing with its ambitious Strategy 2030 to strengthen its competitive position, even though the market environment was a significant brake on growth last year: at 90.3 billion euros, the supplier of technology and services generated 1.4 percent less sales revenue in 2024 than in the previous year, or 0.5 percent less after adjusting for exchange-rate effects. The EBIT margin from operations was 3.5 percent. 'In the 2024 fiscal year, we achieved important improvements in terms of costs, structures, and portfolio,' said Stefan Hartung, chairman of the board of management of Robert Bosch GmbH. With a normal inflation rate of between 2 and 3 percent, Bosch aims to achieve annual growth of between 6 and 8 percent on average until 2030. In the first quarter of the year, Bosch increased its sales revenue by 4 percent compared to the previous year. The Bosch Group is still aiming for a target margin of 7 percent in 2026, viewing this as an extremely challenging task given current challenges. To remain successful amid changing markets and technologies, Bosch will continue to work intensively on costs and structures and focus on profitable business areas. 'As a global technology leader, we are fully committed to boldly playing to our strengths, such as our high level of innovativeness,' Hartung said.
The company also sees its collaboration with startups as a major stimulus for growth. As one of Europe's biggest corporate venture-capital investors, the Bosch Group announced a new fund for venture capital: the subsidiary Bosch Ventures is providing around $270 million USD. Bosch expects developments in its core Mobility business sector, particularly in electromobility, hydrogen, and software-defined vehicles, to be a major stimulus for growth. In the Consumer Goods sector, Bosch sees significant growth opportunities arising from new customer requirements. The focus for power tools is on expanding the range of cordless devices, and Bosch Siemens Hausgeräte is launching a fridge-freezer this year that is the first Matter-capable home appliance on the market. In its Industrial Technology business, Bosch expects order intake to stabilize and is still pursuing the goal of achieving sales revenue of around 1 billion euros by the beginning of the next decade with software and digital services such as the Hydraulic Hub. Additionally, factory automation is set to focus on growth areas such as battery, semiconductor, and consumer goods production. In the Energy and Building Technology sector, Bosch expects the planned acquisition of the heating, ventilation, and air-conditioning (HVAC) business of Johnson Controls and Hitachi to deliver significant growth. Despite all the global turbulence, climate action remains a core concern for Bosch. The company is underlining this with new scope 3 targets, which aim to bring down carbon emissions outside Bosch's direct sphere of influence, such as those from product use, even further by 2030. Irrespective of its growth targets, Bosch wants to double its corresponding CO2 reduction target by then from 15 to 30 percent compared to 2018. 'Climate change won't disappear just because the global economy currently has other challenges to deal with,' Hartung cautions. 'Sustainability remains a priority for Bosch.'
Press photos and infocharts are available on the Bosch Media Service at us.bosch-press.com.
About Bosch
Having established a presence in North America in 1906, today the Bosch Group employs more than 41,000 associates in more than 100 locations in the North American region (as of Dec. 31, 2024). In 2024, Bosch generated consolidated sales of $17.3 billion in the U.S., Mexico and Canada. For more information visit www.bosch.us, www.bosch.mx and www.bosch.ca.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 418,000 associates worldwide (as of December 31, 2024). The company generated sales
of 90.3 billion euros ($97.7 billion USD) in 2024. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. With its business activities, the company aims to use technology to help shape universal trends such as automation, electrification, digitalization, connectivity, and an orientation to sustainability. In this context, Bosch's broad diversification across regions and industries strengthens its innovativeness and robustness. Bosch uses its proven expertise in sensor technology, software, and services to offer customers cross-domain solutions from a single source. It also applies its expertise in connectivity and artificial intelligence in order to develop and manufacture user-friendly, sustainable products. With technology that is 'Invented for life,' Bosch wants to help improve quality of life and conserve natural resources. The Bosch Group comprises Robert Bosch GmbH and its roughly 490 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. Bosch's innovative strength is key to the company's further development. At 136 locations across the globe, Bosch employs some 87,000 associates in research and development.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as 'Workshop for Precision Mechanics and Electrical Engineering.' The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a limited liability company with a charitable purpose. The remaining shares are held by Robert Bosch GmbH and by a company owned by the Bosch family. The majority of voting rights are held by Robert Bosch Industrietreuhand KG. It is entrusted with the task of safeguarding the company's long-term existence and in particular its financial independence – in line with the mission handed down in the will of the company's founder, Robert Bosch.
Additional information is available online at www.bosch.com, www.bosch-press.com.
Exchange rate: 1 EUR = 1.0823
[1] Includes consolidation after closing of acquisition of Paladin Technologies
Attachments
Tim Wieland Bosch in North America 2488767708 [email protected] Megan Bonelli Bosch Mobility 2483309807 [email protected]