Core Insights - Bosch aims to survive and remain profitable amid intense competition in the automotive industry, which is characterized by ongoing price wars and increasing cost-cutting demands from automakers [1][3] - The company plans to control costs and enhance its order volume through technological innovation and improved cost-performance ratios [1][2] Group 1: Financial Performance - In 2024, Bosch China's sales are projected to reach 142.7 billion yuan, representing a year-on-year growth of 2.7% [4] - The smart mobility business accounts for 82% of total sales, with revenue of 116.6 billion yuan, reflecting a 4% increase year-on-year [4] - Bosch's EBIT margin for 2024 is expected to be 3.5%, while other competitors like Valeo and Mahle have margins of 1.35% and 3.6%, respectively [2] Group 2: Market Challenges - The automotive industry is experiencing significant pressure on suppliers due to annual price reductions typically ranging from 3% to 5%, which are now increasing [1][2] - Bosch faces challenges in advanced driver-assistance systems (ADAS), particularly in urban driving, where it is currently in a catch-up phase compared to competitors [3] - The company acknowledges the need for sustainable profitability in emerging fields such as electric motors and advanced driving technologies [2][3] Group 3: Strategic Initiatives - Bosch is focusing on local R&D and aims to support Chinese automakers in their global expansion efforts, leveraging its global network of R&D centers and production bases [4] - The company has already assisted over 200 vehicle models in entering international markets, with plans for further projects in the coming years [4]

Core Insights - Bosch has launched a new driver assistance brand "Bosch Horizon Driver Assistance" at the Shanghai Auto Show, which includes three product lines covering SAE Level 2 assistance systems [1][2] - The company emphasizes the rapid transformation of intelligent driver assistance in China and aims to leverage software and technology innovations to seize business opportunities in this sector [1][3] Group 1: Product Launches and Innovations - Bosch's new driver assistance solutions include the Supreme version aimed at urban driving, which is based on dual Orin-X chips and is set for mass production by the end of 2023 [2] - The company has also introduced a new generation multifunction camera and an upgraded version of the Bosch Horizon Driver Assistance, reinforcing its leadership in Advanced Driver Assistance Systems (ADAS) [2][3] - Bosch is developing a visual language model to enhance the understanding of complex traffic scenarios, such as tidal lanes and bus-only lanes [3] Group 2: Market Strategy and Collaborations - Bosch has established partnerships with five Chinese OEMs for high-speed and urban memory driving assistance, with most projects expected to go into mass production this year [3] - The company plans to expand its end-to-end model for urban driving assistance to high-speed roads and urban memory driving by the end of 2025 [2][3] Group 3: Business Performance and Future Outlook - Bosch's intelligent mobility business is the largest segment of the group, projected to generate €55.9 billion (approximately ¥462.5 billion) in sales for the fiscal year 2024, accounting for nearly 62% of total sales [4] - In 2024, Bosch's sales in China are expected to grow by 4%, reaching ¥116.6 billion, which represents a quarter of Bosch's global intelligent mobility sales [5] - The company has identified that 65% of new business opportunities in China over the next five years are related to intelligent and electrified solutions [5]