India Markets closed

Bosch To Increase Share Of Appliances, Energy Equipment Segment To Boost Growth

The Smarter way to get your business news - Subscribe to BloombergQuint on WhatsApp

Bosch Ltd. is aiming at increasing the share of its home appliances and solar power equipment businesses as consumer demand rises.

The German auto parts maker wants to increase the share of its non-mobility business eventually to 20 percent from 15 percent now, Soumitra Bhattacharya, managing director of Bosch Ltd. and Bosch Group India president, told BloombergQuint. This, he said, is a part of the company’s strategy to transform from a hardware-only company to focus more on services and data.

Bosch Home Appliances, Bhattacharya said, will invest 100 million euros (about $110 million) over the next four years into personalised solutions, brand building, strengthening its technology center and setting up a robust refrigerator factory in India.

This investment comes five months after Bosch said it will invest Rs 1,700 crore in the next three years in India to build artificial intelligence-enabled products and modernise manufacturing facilities.

Watch the full interview here:

. Read more on Business News by BloombergQuint.