Robert Bosch GmbH has ruled out taking on dominant Asian manufacturers of electric car batteries, a decision that puts a dent in German government hopes for the emergence of a European supplier.
Gaining a fifth of the global market share in battery cells would require 20 billion euros ($24 billion) in investment by the end of the next decade and wouldn’t be worthwhile in the face of competition, Rolf Bulander, head of Bosch’s automotive unit, said Feb. 28.
The world’s biggest car-parts supplier had been considering setting up a factory to make battery cells for at least a ...
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