The rapid growth of China's auto sales is attracting suppliers. A group of multinational parts giants may either invest in additional products or introduce green products to capture the Chinese market.
Bosch Opens China Market with 3.4 Billion
A few days ago, Bosch, a technology and service provider, announced that its new China headquarters building at the Hongqiao Linkong Economic Park in Shanghai was officially opened. The Chairman of Bosch Group, Franz Ferenbach, said that the completion of Bosch China’s new headquarters will help strengthen China’s business and it is expected to invest RMB 3.4 billion in the future to open up the Chinese market.
In addition, in 2010, Bosch's global sales amounted to more than 47 billion euros, or about 420 billion renminbi, an increase of 24% compared to 2009, making Bosch the best performing company in its history. In 2010, Bosch Asia Pacific sales exceeded the 10 billion euro mark for the first time, accounting for 23% of global performance. The development of China is particularly eye-catching, with total sales exceeding 37 billion yuan, a year-on-year increase of 36%. China has become Bosch's third largest market in the world after Germany and the United States.
Eaton Sells Green Products in China
Interestingly, the industrial product manufacturer Eaton, which is located across the street from the Bosch headquarters building, also brought the latest global power management and green energy-saving emission reduction technologies to the Shanghai auto show.
In addition to exhibiting its full range of engine valves and valve drive mechanisms, lockable differentials, fuel evaporation valves, truck transmissions and clutches, etc., which have been widely used in the Chinese market, Eaton also brings the world’s latest technology AMT, Twin Turbo Turbocharger (TVS) and hybrid system.
“Eaton has been established for 100 years and the market environment has undergone tremendous changes. The world’s unprecedented increase in energy demand, increasing environmental impact, and increasingly stringent regulatory requirements. These green technologies and solutions can help trucks and cars improve performance and fuel economy. Sex and safety are in line with the development needs of the global and Chinese markets,†added Dai Wenkai, president of Eaton Vehicle Group.
It is reported that Eaton is accelerating its layout in China. Shanghai Eaton Engine Components Co., Ltd. was established in 1998. In 2006, Eaton also established Eaton Industry (Shanghai) Co., Ltd. In 2010, Eaton announced the construction of a new engine valve manufacturing plant in Jining City, Shandong Province, to meet the strong growth needs of the Chinese automotive market.
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