Bosch will invest more than $1 billion todevelop and manufacture car parts and automated-driving technology in Suzhou,according to a signing ceremony held in the city on January 12.

The investment will focus on electric-vehiclecomponents including silicon carbide (SiC) power devices and thenext-generation integrated power brake (IPB 2.0) as well as R&D associatedwith Bosch China¡¯s advanced driving solution.

Via video link, StefanHartung, chairman of the board of management of Bosch, said that amultinational company needs to make full use of local R&D and productioncapabilities. Noting China is the world¡¯slargest automotive market with resilient and dynamic growths, he said Bosch willeffectively strengthen its global competitiveness by continuing development inthe country.