Mumbai, Dec 6 (UNI) Diesel technology major Germany-based Robert Bosch today said that it is planning to invest Rs 850 crore in its Indian operations and will take the total investment to Rs 2,650 crore by 2010.
The company is planning to set up engineering and manufacturing facilities for gasoline systems, electronic control units and ABS systems in the next two years, the Company said here today.
''Apart from the expansion of the common rail diesel production, the money will be invested in the manufacturing of gasoline system's components from 2008,'' Bosch's Chairman (Automotive Group) Dr Bernd Bohr said.
The board of directors of Bosch's Indian subsidiary Motor Industries Company (MICO), which met today, approved a proposal to change the name of the company to Bosch, subject to the approval of the shareholders and regulatory authorities. It has also increased its stake holding in MICO to nearly 70 per cent.
Dr Bernd Bohr said that the group will increase its business in India by about 20 per cent to nearly Rs 4,700 crores in this fiscal year.
Exports, sales of the group companies will be more than Rs 5,700 crores, Dr Bohr added.