Bosch's forecast for electric cars and job market outlook

Bosch's forecast for electric cars and job market outlook

Auto supplier Bosch continues to show confidence in electric mobility despite the current downturn in electric car sales. Bosch boss Stefan Hartung emphasizes that electromobility is making unstoppable progress, although markets such as hydrogen and heat pumps are currently lagging. Current data from the European car lobby Acea shows that the proportion of purely electric cars in new registrations in Europe has fallen slightly. Nevertheless, Hartung predicts that by 2030, 70 percent of all new cars in Europe will be purely electric, while in China and North America 40 to 50 percent will be electric cars.

For the current year, Bosch expects moderate sales growth of five to seven percent, while the operating return should remain stable. Although Bosch is aiming for higher profitability in the future, the company is currently challenged by a slight decline in sales and the high costs of switching to electric drives. Compared to competitors like Continental, which is struggling with a drastic decline in the automotive supply sector, Bosch is currently on more solid ground.

The restructuring and adjustment of jobs are essential as Bosch wants to reduce employment in the combustion engine sector and expand in the areas of electromobility and hydrogen. Hartung also sees the cause of uncertainty in contradictory climate and energy policies, which can hinder ongoing investments. Despite the current challenges, Bosch emphasizes the need to consistently promote climate protection measures in order to remain competitive in the long term.