Bosch's Strategy 2030: Forging ahead with ambitious goals as a technology leader

Stuttgart and Renningen, Germany – The Bosch Group is continuing with its ambitious Strategy 2030 to strengthen its competitive position, even though the market environment was a significant brake on growth last year: at 90.3 billion euros, the supplier of technology and services generated 1.4 percent less sales revenue in 2024 than in the previous year, or 0.5 percent less after adjusting for exchange-rate effects. EBIT (earnings before interest and taxes) from operations stood at 3.1 billion euros (2023: 4.8 billion euros); the EBIT margin from operations was 3.5 percent. Referring to the presentation of the company’s annual figures, Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, said: “In the 2024 fiscal year, we achieved important improvements in terms of costs, structures, and portfolio. We are sticking to our ambitious targets in order to continue to grow and strengthen our financial independence. Our Strategy 2030 gives us the orientation we need, especially in times of global turbulence, to become one of the top three providers in our core markets in five years’ time at the latest.”

The corporate strategy is reflected in Bosch’s financial targets as well: With a normal inflation rate of between 2 and 3 percent, Bosch aims to achieve annual growth of between 6 and 8 percent on average until 2030. In the first quarter of 2025, Bosch was able to increase its year-on-year sales by 4 percent, both in euros and adjusted for exchange-rate effects. The Bosch Group is still aiming for a target margin of 7 percent in 2026. Hartung sees this as an extremely challenging task in view of global upheaval and, above all, significantly stronger competition from Asia: “We will continue to work intensively on our costs and structures and focus on profitable business areas.” 

Innovation boost: investment of 250 million euros in startups

Bosch is relying on its strengths to emerge successfully from the current transformation of markets and technology: “As a global technology leader, we are fully committed to boldly playing to our strengths, such as our high level of innovativeness.” Hartung explained. “This will open up numerous future opportunities for us, even in an adverse environment.” Last year alone, Bosch registered more than 6,700 patents, making it one of the 100 most innovative companies in the world, according to analysts Clarivate. Bosch also sees its collaboration with startups as a major stimulus for growth. As one of Europe’s biggest corporate venture-capital investors , the Bosch Group announced a new fund for venture capital: the subsidiary Bosch Ventures is providing around 250 million euros. “For one thing, investments in startups promote technological progress in business and society, and for another, this collaboration also benefits our divisions,” says the Bosch chairman, explaining the company’s continued high level of commitment to venture capital. “Innovations are also important drivers of a country’s economic growth.” 

Sustainability: new CO2 targets despite global economic turbulence

In terms of politics, Bosch, like the entire industry, is seeing the world order drifting apart. “We are currently experiencing major upheavals in our business environment, while in the global economy free trade is coming under massive pressure,” Hartung said. In light of the new government in Germany, Hartung stressed that new debts do not release anyone from the obligation to make savings wherever possible. “The billion-euro financial packages should be invested specifically in the planned reforms,” he said.  The Bosch Group has underlined its conviction that, despite all the global turbulence, climate action must not slip out of sight by announcing new scope 3 targets: Hartung explained that the aim is to bring down carbon emissions outside Bosch’s direct sphere of influence, such as those from product use, even further by 2030. 

Irrespective of its growth targets, Bosch wants to double its corresponding CO2 reduction target by then from 15 to 30 percent compared to 2018.*  “Climate change won’t disappear just because the global economy currently has other challenges to deal with,” Hartung pointed out. “Sustainability remains a priority for Bosch.” 

Business development in Thailand

Despite the challenging economic environment , Bosch Thailand demonstrated steady growth in 2024. The total net sales of 656.88 million euros in Thailand, including sales of non-consolidated companies and internal deliveries to affiliated companies, amounted to a year-on-year increase of 4.9 percent. Consolidated sales to third parties amounted to 457 million euros in 2024. As of December 31, 2024, Bosch Thailand employed more than 1,600 associates, reinforcing its role as a strong and reliable contributor to the local economy. 

“Our continued investments in Thailand reflect Bosch’s confidence in the country’s growth potential and our commitment to driving innovation locally. By aligning business performance with sustainable practices, we are building a resilient foundation for long-term success across business sectors”, said Joseph Hong, managing director of Bosch in Thailand.

In 2024, Bosch Thailand continued to strengthen its Mobility business sector through strategic investments. This included the expansion of the brake booster lines at the Amata plant as well as the addition of production lines for injectors and connectors at the Hemaraj plant. The company’s R&D Center in Rayong remains a key asset, housing specialists and experts with worldwide responsibilities fulfilling the expectations of the internal and external stakeholders. In the aftermarket business, Bosch focused on the development of the distribution network and increased workshop reach through strategic partnerships. 

The Consumer Goods business sector saw significant momentum throughout the year. Bosch Home Appliances expanded its presence with the opening of flagship stores in key retail locations such as Central Rama 9, Central Westgate, and Italthai Tower, providing customers with a more immersive brand experience. Bosch Power Tools also enhanced its service capabilities by launching a new service center to elevate after-sales support and customer satisfaction.

In the Industrial Technology business sector, Bosch Rexroth Thailand strengthened its regional role establishing a Center of Competence dedicated to the service of electric drives and motors. This strategic hub will enhance support for customers across Southeast Asia and Oceania by providing expert maintenance, diagnostics, and repair services.

In a separate initiative under the Energy and Building Technology sector, Bosch Thailand signed a Memorandum of Understanding with CP Group, a leading Thai conglomerate, to explore sustainable solutions for industrial boiler systems focusing on reducing carbon emissions and improving energy efficiency.

In 2024, Bosch Thailand successfully completed the UNGCNT’s SDG Accelerator Program, further reinforcing its commitment to sustainability. The company continued to embed sustainable practices by leveraging digitalization and innovative solutions to enhance energy efficiency. Initiatives such as water reservoir projects, waste reduction, and resource optimization exemplify this approach. Complementing these efforts, Bosch also supported local communities through various corporate social responsibility initiatives, including a charity run, flood relief donations to the Thai Red Cross Society, and ongoing collaboration with Primavera, a charitable organization of Bosch associates, to provide long-term support to the Hand to Hand Foundation in Chonburi and the Skills for Life Foundation in Chiang Mai.

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* With its more than 450 locations worldwide, the Bosch Group has been carbon neutral overall (scopes 1 and 2 of the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard) since 2020. This is achieved with four levers: improving energy efficiency, generating energy from renewable sources, purchasing green electricity, and offsetting residual CO₂ emissions with carbon credits. Visit sustainability.bosch.com for further information on the Bosch Group’s sustainability strategy.