Latest news with #VijayRatnaparkhe
CNA
27-05-2025
- Automotive
- CNA
Bosch powers the future of mobility in Southeast Asia
Electric vehicles (EVs) are steadily becoming part of everyday life in Southeast Asia, as more consumers make the switch to greener transport options. According to Mr Vijay Ratnaparkhe, president of Bosch Southeast Asia, EV adoption in the region has gained momentum in recent years, rising from 9 per cent in 2023 to 13 per cent in 2024. In Singapore, the shift is even more pronounced: About one-third of new cars registered in 2024 were electric, up from nearly one in five in 2023, and just over one in 10 in 2022. Despite the encouraging trend, growth has not been as rapid as many had anticipated. Mr Ratnaparkhe noted that key challenges remain, particularly regarding cost, resale value, battery performance and charging accessibility. Against this backdrop, global technology supplier Bosch believes that closing infrastructure gaps and educating the public about misconceptions surrounding EVs is essential for the EV transition to gather momentum. OVERCOMING BARRIERS TO EV ADOPTION Southeast Asia's varied landscape and infrastructure present a unique mix of obstacles and opportunities. While some markets have experienced faster adoption spurred by government incentives, others continue to lag due to infrastructure limitations and consumer hesitance. A major hurdle is the absence of a robust and widely accessible charging network. Without enough charging stations, many drivers experience 'range anxiety', the fear that their vehicle might run out of power before reaching a charger. Mr Ratnaparkhe highlighted that while earlier EV models had shorter ranges, today's vehicles have made significant strides. 'Thanks to ever-improving range prediction and navigation systems showing available charging stations, EV drivers can now clearly understand how far their battery will take them and where nearby charging stations are. By continually assessing the driver's surroundings, the vehicle can provide precise range calculations, minimising anxiety,' he explained. 'Range capabilities will only get better. With advances in battery technology and the adoption of more efficient components, such as the use of silicon carbide in inverters, EVs will continue to go farther on a single charge.' Another challenge is the uncertainty around battery health and resale value. Cost-conscious buyers in the region often consider long-term maintenance and potential resale value before committing to a purchase. As a result, many consumers opt for hybrid vehicles, which feel more familiar and are seen as less risky, particularly amid concerns about battery degradation over time. To tackle these concerns, Bosch has launched a battery certification service. This initiative enables buyers of used EVs to evaluate a vehicle's remaining battery life and value, ultimately boosting confidence in second-hand EV purchases. DEBUNKING MYTHS ABOUT ELECTRIC VEHICLES Despite growing EV adoption, persistent myths about EVs continue to influence consumer perceptions. One common concern is the perceived poor performance in wet weather and safety in floods, issues that are being actively addressed through advancements in EV design and engineering. 'EVs are designed and tested to resist water damage, just like combustion cars,' said Mr Ratnaparkhe. He explained that the battery pack is insulated and protected with additional shielding, while the high-voltage cables linking the battery to the motors are also insulated. Moreover, electric and hybrid vehicles are equipped with fail-safe systems that automatically shut down the electrical components in the event of a collision or short circuit. 'While driving through floodwaters is generally not advisable, the idea that EVs are unsafe because of the battery is a misconception,' said Mr Ratnaparkhe. Another common concern is the cost of owning an EV. According to Mr Ratnaparkhe, the upfront price of EVs is decreasing due to mass production and improvements in battery technology. While tariffs may affect supply chain costs, tax incentives and road tax exemptions in some countries have helped narrow the price gap with traditional vehicles, making EVs more accessible. PROMISING SIGNS ON THE ROAD AHEAD With continuous advancements in technology and strong government support across many countries, owning an EV is becoming both a financially smart and environmentally responsible decision. 'Our internal data shows that EVs produce 20 to 30 per cent less carbon dioxide emissions over their life cycle compared to equivalent petrol or diesel cars,' Mr Ratnaparkhe said. This assessment includes emissions from manufacturing, driving and recycling. Looking towards 2030, Bosch expects the environmental benefits of EVs to become even more significant. By then, new EVs are projected to emit around 40 per cent less carbon dioxide than their conventional counterparts. Mr Ratnaparkhe added that EV adoption in Southeast Asia is set to accelerate. The entry of more automakers, a wider variety of models and falling battery prices are making EVs increasingly attractive and accessible. Younger, more eco-conscious buyers, are also playing a key role in driving demand for EVs. Meanwhile, artificial intelligence is enhancing the EV experience by enabling real-time analytics, predictive maintenance and personalised driving features. 'Software will play an increasingly important role in shaping the future of mobility,' said Mr Ratnaparkhe. 'With new hardware and software solutions, we are helping to make mobility safer, more efficient and more sustainable.'
The Star
13-05-2025
- Automotive
- The Star
Bosch Malaysia posts highest-ever revenue in 2024
Vijay Ratnaparkhe, regional president of Bosch in Southeast Asia KUALA LUMPUR: Bosch Malaysia recorded its highest-ever turnover in 2024, marking a significant increase from the previous financial year. Its total net sales jumped nearly 31% year-on-year (YoY) to €1.466 billion (RM7.26bil) in 2024, including sales from non-consolidated companies and internal deliveries to affiliated firms. Consolidated sales to third parties in Malaysia grew 16% YoY to 188 million euros (RM929.5mil). 'Last year's double-digit growth is a clear reflection of the local market's continued trust towards the Bosch brand. 'Building on our century-long legacy in Malaysia, we continue to scale up our presence in key areas such as mobility and semiconductors while deepening our collaboration with local partners and communities,' regional president of Bosch in Southeast Asia, Vijay Ratnaparkhe said in a statement. Bosch's strong manufacturing, research, and development base in Penang has helped drive its business growth. Penang is home to Bosch's largest high-tech engineering hub in Southeast Asia, focusing on mobility electronics, power tools, and semiconductors. The semiconductor backend site in Penang is Bosch's most advanced test centre in Asia for automotive chips and sensors. Last year, the facility reached a milestone with the completion of its clean room, and is on track with its ramp-up plan extending through till 2035 to systematically reinforce Bosch's global semiconductor activities. As of Dec 31, 2024, Bosch employed over 3,700 associates and invested 42 million euros (RM209.7mil) in the country. The Bosch Group reported group-wide sales revenue of €90.3 billion for 2024, down 1.4% YoY, and an EBIT (earnings before interest and taxes) margin from operations of 3.5%.
