BERLIN (Reuters) - Germany's Robert Bosch [ROBG.UL], the world's biggest automotive supplier, has decided against producing its own battery cells, saying the billions of euros of investment needed was too risky.
The decision is a blow to European politicians and car manufacturers
who have called for companies to band together to create a regional
battery cell producer to compete with Asian players such as Samsung and Panasonic.
"Given dynamic external market factors that can only be predicted with difficulty, it is unclear whether this investment would pay off for Bosch, and when," Bosch said in a statement on Wednesday.
Bosch had said it would only consider making battery cells if there was a chance it could capture a fifth of that market by 2030, a move it said would require about 20 billion euros (£17.7 billion) of investment to create 200 gigawatt hours of capacity.
"In the overall interest of the company, such an investment is not justifiable," Rolf Bulander, head of mobility solutions said on a conference call. "For new entrants, market conditions are more than challenging."
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"Given dynamic external market factors that can only be predicted with difficulty, it is unclear whether this investment would pay off for Bosch, and when," Bosch said in a statement on Wednesday.
Bosch had said it would only consider making battery cells if there was a chance it could capture a fifth of that market by 2030, a move it said would require about 20 billion euros (£17.7 billion) of investment to create 200 gigawatt hours of capacity.
"In the overall interest of the company, such an investment is not justifiable," Rolf Bulander, head of mobility solutions said on a conference call. "For new entrants, market conditions are more than challenging."
Full article: LINK
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