Bosch decides not to step into EV battery cell production
Germany’s major automotive supplier Bosch has decided not to invest itself in the production of battery cells for electric cars. It would need to invest more than 20 billion euro in R&D on battery technology to gain a 20% market share and that’s considered too much to be economical feasible.
Bosch was investigating for more than a year the possibility of producing its own battery cells in a yet to build new factory. But it abandons its plans now and says it will focus on the assembly of battery systems instead. Past years Bosch has spent more than 400 million euro yearly in electric car technology.
German government disappointed
The German government is disappointed that this way German car industry will stay dependent from foreign battery suppliers. State Secretary for Economy Matthias Maching (SPD) said on Thursday: “This is a step back in the German industrial policy. A top country like Germany needs the independent knowledge and production capacity for this essential element of e-mobility”.
Maching added he couldn’t imagine that Germany wouldn’t have had its own development and production of combustion engines in the past. “In this case German car industry wouldn’t be at the world’s top”.