Automotive supplier Robert Bosch GmbH today outlined its North American investment plans.
The company said it plans to invest $360 million in the region this year. Of that, more than $250 million will be in the company’s Mobility Solutions sector.
That includes spending at Bosch’s Charleston, S.C., facility to ramp up powertrain electrification. Bosch said it is also investing to improve technology related to conventional internal combustion engines. Bosch said it expects to invest $80 million by 2023 at Charleston.
In North America, Bosch said its North American sales reached $12.3 billion in North America last year. That was down 15 percent from 2019, which the company attributed the COVID-19 pandemic.
“The COVID-19 pandemic had a substantial impact on our business, particularly in the second quarter of 2020,” Mike Mansuetti, president of Bosch in North America, said in a statement.
“For the current year, we are optimistic about building upon the results of the second half of 2020 and the start of 2021, but also expect on-going challenges due to industry-wide headwinds such as the semiconductor shortage,” Mansuetti said.
The global auto industry is coping with a shortage of computer chips. That shortage has forced automakers to reduce output and institute temporary layoffs. The semiconductor is peaking during this year’s second quarter. But the shortage may not end until 2022.
In North America, Bosch said it plans to invest in artificial intelligence (AI). The company also said it plans to reduce CO2 levels by 15 percent by 2030 from Bosch’s 2018 levels.