Shanghai (ZXZC)- Bosch Automotive Products (Suzhou) Co., Ltd. ("Bosch Suzhou"), a wholly-owned subsidiary of Bosch Group, on Jan. 12 signed an investment agreement with the Administration Committee of Suzhou Industrial Park to build an R&D and manufacturing base for core new energy vehicle (NEV) parts and autonomous driving technologies in Suzhou city, Jiangsu province, according to a post on Bosch Group's WeChat account.

Per the agreement, the construction of the new R&D and manufacturing base is expected to be completed in mid-2024.

Photo credit: Bosch 

In addition, Bosch Group plans to invest a total of about 7 billion yuan ($1.038 billion) over the next few years in the aforesaid project, so as to boost the development of its NEV- and autonomous driving-related businesses.

With a capacity building area of roughly 300,000 square meters, the new facility will be mainly used for the R&D and manufacturing of the electric drive products equipped with the new-generation SiC power modules, the IPB (Integrated power brake) 2.0 system, and intelligent decoupled braking system. Besides, the R&D of many core autonomous driving technologies like Bosch China’s high-level intelligent driving solutions will be conducted at the new base as well.