Bosch sees ‘huge’ market for electric, self-driving vehicle services

Robert Bosch announced a push into parking, charging and maintenance services for electric and self-driving vehicles as it posted flat annual operating profit on Wednesday.

Bosch said it was in talks to expand a research alliance on autonomous vehicles and planned to invest 4 billion euros ($4.6 billion) to develop self-driving cars by 2022.

Bosch has 4,000 engineers working on autonomous vehicles technology and is working with Daimler to develop self-driving cars.

“We always said we are open for others to become partners, and there are talks,” CEO Volkmar Denner said.