"The low-price-vehicle-segment is growing faster in Asia and the emerging economies than any other segment, including the premium markets," Bosch's India chief Albert Hieronimus told "auto motor und sport" magazine.
FRANKFURT (Reuters) - Bosch <ROBG.UL>, the world's largest car parts supplier, wants to expand its business with manufacturers of cheap cars and garner sales of 1 billion euros ($1.47 billion) by 2010 from them.
"The low-price-vehicle-segment is growing faster in Asia and the emerging economies than any other segment, including the premium markets," Bosch's India chief Albert Hieronimus told "auto motor und sport" magazine.
Bosch wants to supply Indian manufacturer Tata <TAMO.BO> with electronics systems, brakes and fuel injection systems.
Hieronimus said Bosch wants to invest 500 million euros in India from 2005 to 2010 and expects sales there to grow by at least 20 percent in the coming year.
!ADVERTISEMENT!(Reporting by Rajiv Sekhri; editing by Sue Thomas)
