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Robert Bosch GmbH's facilities in Wuxi. [Photo/Wuxi Daily]

Bosch Powertrain Systems Co Ltd inked a strategic cooperation agreement with Xinwu district in Wuxi, East China's Jiangsu province, on March 25.

The cooperation agreement is expected to further promote the localization and commercialization of Bosch-made hydrogen cells and electrified products.

More core components of hydrogen cells will be brought to Wuxi to further expand the development of new energy-related products, providing strong support for the establishment of a new energy hub valued at 200 billion yuan ($29.05 billion) and an automobile hub valued at 300 billion yuan.

Bosch Powertrain Systems Co Ltd is a joint venture between Robert Bosch GmbH and Wuxi-based Weifu High-Technology Group Co Ltd.

Since Robert Bosch GmbH started cooperating with Weifu in 2004, Bosch has established companies specialized in powertrain systems, automotive systems, and united automotive electronic systems in Wuxi, making the city a major Chinese hub for the group's powertrain system business and automotive and intelligent transportation technology.

Stefan Hatung, chairman of the board of management of Robert Bosch GmbH, noted that Bosch will invest 3 billion euros ($3.24 billion) to satisfy the increasing technological demands of carbon neutrality by developing hydrogen cells, hydrogen, and electrification solutions for vehicles.