NANJING - German automotive components supplier Bosch has launched a 48-volt battery project in Wuxi, East China's Jiangsu province, the city government announced Thursday.
Construction of the workshops and facilities has started, according to local officials.
The 48-volt batteries are expected to be widely used in both electric and fuel vehicles, according to Bosch Automotive Systems (Wuxi) Co Ltd, the subsidiary company Bosch set up in 2015 which is running the project.
The project is expected to generate revenue of up to 8.7 billion yuan ($1.38 billion) annually after being put into operation in 2021.
Bosch will continue supplying powertrain systems in China to help promote the electrification of China's auto industry and achieve zero-emissions, said an executive with Bosch's Powertrain Solutions Division.
Bosch signed a memorandum of understanding on strategic cooperation with the Wuxi government last year. The two sides vowed to work together on developing automotive batteries and promoting electrification of the automobile industry.