September 19, 2018 / 6:11 AM / a month ago

Bosch's car unit targets 4 percent revenue growth in 2018

FRANKFURT (Reuters) - Bosch’s [ROBG.UL] core auto parts unit aims to grow revenues by 4 percent this year, the world’s largest supplier to the car industry said on Wednesday, citing a 7 to 8 percent increase in sales to truck and offroad vehicle manufacturers.

While demand for diesel technology remains robust for the time being, that will change by 2030, unit head Rolf Bulander said in a statement.

“By 2030, every fourth truck will be electronically powered, and in China every third truck,” he said, adding that Bosch aimed to become market leader in e-mobility.

Bosch’s mobility solutions unit last year accounted for 60 percent of the company’s group sales.

Reporting by Ilona Wissenbach; Writing by Arno Schuetze; Editing by Maria Sheahan

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