Bosch, an automotive supplier based in Germany said, it is planning to invest 664 million dollars in its operations in the United States in 2022. Bosch has been one of the major suppliers to the automobile industry of the United States and just like the other suppliers and automobile companies, the company is now dealing with the issues in the supply chain and also the effects lingering from the novel corona virus pandemic.
Bosch said that, the automobile industry has been investing heavily on the electric vehicles and Bosch is also going to be investing in the fuel cell technology powered by hydrogen. Mike Mansuetti, president of Bosch North America said, they are all in for the hydrogen and he also said that, Bosch is going to spend over 1 billion dollars in the next three years on the fuel cells.
Additionally, Bosch is intending to hire 10,000 software engineers in 2022 and with of them are going to be based in the United States. Just like the other suppliers, Bosch is also coping with the continuously increasing prices including the high costs of resins and steel.
Paul Thomas, executive vice president of Mobility Solutions at Bosch said, the company is also experiencing a steep increase and raw materials and such prices have been tripled since the year 2022.