Bosch, a leading global supplier of technology and services, is reorganizing its Mobility Solutions business sector to give it more autonomy within the corporate structure. The unit will be called Bosch Mobility and will be led by Markus Heyn, who has been chairman of Mobility Services since January 2022. The change will be effective from January 1, 2024. Bosch Mobility is expected to be the largest of Bosch’s four business units and will have seven divisions, including electrified motion, vehicle motion, power solutions, cross-domain computing solutions, mobility electronics, mobility aftermarket, and E-bike systems.
Bosch is forecasting a surge in revenue to 80 billion euros ($88 billion) by 2029. For 2023, Bosch expects 6 percent to 9 percent revenue growth from 88.2 billion euros in 2022 and an EBIT (earnings before interest and taxes) margin of 5 percent, up from 4.3 percent in 2022. The main growth drivers will be the cars and heating systems businesses. CEO Stefan Hartung said that new business in both areas is a result of the transformation of energy systems to protect the climate.
Bosch Mobility’s growth engines will include automotive software, which Bosch says has been growing by “double digits” in recent years and is expected to have a global market value of 200 billion euros by 2030, three times what it is now. Bosch says the reorganization of its mobility business will help various units work together better and faster, citing the example of a new vehicle stabilizing system that can reduce braking distance.
Bosch is not a publicly traded company, with 94 percent of share capital held by Robert Bosch Siftung, a charitable foundation. Bosch is ranked No. 1 on the Automotive News list of the top 100 global suppliers, with worldwide sales to automakers of $49.14 billion in 2021. Of Bosch’s 2022 revenue, Mobility Solutions accounted for 52.6 billion. Sales were up by 16 percent, with a margin of 3.4 percent versus 0.7 percent in 2021.
The mobility sector has been a major focus for Bosch in recent years, as the company looks to capitalize on the growing demand for electric and autonomous vehicles. The reorganization of Bosch Mobility is expected to help the company to better meet the needs of its customers and to accelerate its growth in the sector.
In conclusion, Bosch is reorganizing its Mobility Solutions business sector, giving it more autonomy within the corporate structure, and forecasting a surge in revenue to 80 billion euros ($88 billion) by 2029. Bosch Mobility is expected to be the largest of Bosch’s four business units and will have seven divisions, including electrified motion, vehicle motion, power solutions, cross-domain computing solutions, mobility electronics, mobility aftermarket, and E-bike systems. The mobility sector has been a major focus for Bosch in recent years, and the reorganization of Bosch Mobility is expected to help the company to better meet the needs of its customers and to accelerate its growth in the sector.
