Shanghai (ZXZC)- Robert Bosch Venture Capital GmbH ("RBVC"), the corporate venture capital company of the Bosch Group, has set up a joint venture in China with Boyuan Capital, Foton Motor, SinoHytec, and Shenzhen Fuyuan Zhihui Investment Partnership (L.P.) ("Fuyuan Zhihui" is Chinese pinyin) for the R&D and production of all-electric and fuel cell commercial vehicles (CVs), according to a post on Bosch Group's WeChat account.

The joint venture, named Beijing Kawen New Energy Vehicle Co., Ltd. ("Kawen NEV"), was incorporated on Oct. 18, 2022, according to the corporate information inquiry platform Tianyancha. It will be dedicated to the R&D, production, and sale of full-electric and fuel cell CVs, as well as relevant core parts and systems, said Bosch Group. Besides, Kawen NEV plans to develop drive-by-wire and intelligent driving technologies, including intelligent connectivity, smart logistics, and autonomous driving.

Bosch China's headquarters; photo credit: Bosch Group

Wang Weiliang, regional president of Bosch Powertrain Solutions China, commented that Bosch Group, who places great importance to the development of hydrogen power technologies, will leverage its experience and advantages in the hydrogen power field to help Kawen NEV boost the development of fuel cell vehicle business. Additionally, Bosch will team up with the joint venture and partners to build a hydrogen energy ecosystem, so as to promote the development of a full industrial chain for hydrogen power.

Foton Motor is a leading CV manufacturer in China, and also one of the earliest Chinese automakers to tap into the hydrogen-powered CV field.

Notably, Boyuan Capital is Bosch's investment platform based in Shanghai for deep-tech investments in China. SinoHytec is a high-tech enterprise focusing on R&D and industrialization of hydrogen fuel cell engines. Fuyuan Zhihui is majority-owned by BAIC Capital.