He said the venture has opened up new business opportunities with customers, allowing the company to expand its reach beyond its traditional business-to-business model.
Having launched its first online store on Lazada with the Automotive Aftermarket, Power Tools and Security Systems divisions, the company expanded its presence in e-Commerce to 11Street. This year, Bosch wants to enter other virtual shopping platforms in Malaysia, Song said.
Moving on, he said that 2016 also saw Bosch was being presented with the Safety Technology Award: Innovative Motorcycle Technology for Safer Riding by ASEAN NCAP, recognising the company's continuous effort in innovating safer riding with two-wheeler technologies such as motorcycle antilock braking system (ABS), motorcycle stability control (MSC), and side view assist.
Song pointed out that with about 18 road fatalities per day recorded in 2015 in Malaysia, according to the World Health Organisation, the country has the third highest road traffic fatality rate in Southeast Asia.
More than 60 percent of road accidents involved motorcyclists, he said. "The vision of Bosch for the future of mobility is 'zero accidents, zero emissions, and zero stress', which is why we will continue our efforts in 2017 to strengthen awareness about active safety. Beyond Electronic Stability Program (ESP), we are committed to drive home the message of the life-saving need for active safety technologies such as Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD) and Lane Keeping Assistance (LKT) in vehicles. We will continue to advocate vehicle safety awareness to the grassroots via initiatives similar to the first Auto Women's Workshop that we hosted in line with the 'One Wrong Part Ruins Everything' campaign."
Song noted that the Mobility Solutions business sector recorded the highest growth for Bosch in Malaysia. Driven by market trends of connectivity, autonomous driving, and expansion of production and engineering capacity, the Car Multimedia division achieved double-digit growth.
Looking ahead towards connected devices, the division will focus on the production of Connectivity Control Units (CCU) for markets in China, Europe and North America to facilitate automated emergency calls (eCall) in cars and motorcycles, he said.
Meanwhile, the Power Tools division saw stable growth in 2016, supported by its eCommerce business platform and the marketing concept of the Bosch Power Box, a mobile shop at Forest City located in Johor Baharu, which is one of the biggest construction sites in Malaysia, Song added.
This year, the division will be launching 20 new products, ranging from grinders to high pressure washers. The Power Tools manufacturing plant exceeded its outlook for 2016 with strong double-digit growth, backed by the successful production of 17 new products.
He said that for 2017, "in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent. And despite still heavy upfront investments in safeguarding the company's future, results are set to rise."
Commenting on the company's global performance, Dr Volkmar Denner, chairman of the Bosch Board of Management, said: "Business success today gives us the leeway to shape tomorrow's world. The focal points of this transformation are changes in the mobility sphere and IoT connectivity. By 2020, all Bosch's new electronic products will feature connectivity."
"The key to this is artificial intelligence (AI)," Denner added. "Over the next five years, Bosch will be investing 300 million euros in its own centre for artificial intelligence."
For other Bosch and related coverage see:
- Feeding the 4th Industrial Revolution in Malaysia, MIMOS sees two major talent moves
- MDEC adds another master cog to Malaysia's Digital Economy
- Bosch achieves strong growth in Malaysia, exceeds sales target by 10 percent
- Bosch Malaysia hits 14% growth, will further boost local presence this year
- MDEC CEO Dato' Yasmin Mahmood unveils Malaysia's Digital Economy report card
- What's really in store for Malaysia's IT industry in 2017?
- Securing the Internet of 'Nano-Things,' an exclusive with NanoMalaysia CEO Dr Rezal Khairi Ahmad
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