BERLIN -- German automotive supplier Bosch is investing about $1 billion in a new R&D and assembly center in Suzhou, China, the company said on Thursday, with the first phase of the project ready by mid-2024.
The center will develop and assemble components for electromobility and automated driving to sell primarily to Chinese customers, it said.
Bosch already has four factories in Suzhou, employing almost 10,000 workers.
The company ranks No. 1 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $49.1 billion in its 2021 fiscal year.