PRESS INFORMATION

Bosch Rexroth signs joint venture agreement withZhejiang Hechuan Technology to strengthen automation
business in China
Jan Saeger | 02.11.2023 | Lohr am Main

Joining product portfolios to create strong player in mid-price segment ofChinese industrial automation market•••

Focus on automation & electriﬁcation products at optimal cost-performance ratio

Agreement also includes Bosch Rexroth acquiring minority share in Zhejiang Hechuan
TechnologyThe new joint venture will market its portfolio under the brand Le-AutomatiX and will bebased in ShanghaiAgreements to establish a joint venture were signed by Thomas Fechner, Member of the management board of Bosch
Rexroth and Wang Xiangbin, Chairman of Hechuan Technology on November 2, 2023. Other members of the boards ofmanagement of both companies were also present.

Bosch Rexroth and Zhejiang Hechuan Technology plan to join their forces in the ﬁeld ofindustrial automation in China. Bosch Rexroth is a Germany-based leading supplier ofautomation and electriﬁcation solutions and has been active in China since 1978. Zhejiang
Hechuan Technology, focusing on research and development, manufacturing, sales andapplication integration of industrial automation products, is based in Quzhou, Zhejiang
Province, and listed on the Shanghai stock exchange. An agreement to create a joint venture
mainly for the Chinese automation market was signed on November 2, 2023. As second part ofthe partnership, Bosch Rexroth will acquire a minority stake of Zhejiang Hechuan Technology
to become a strategic investor in the company, which underlines the commitment of bothparties to the joint venture.
“The joint venture is set to become a powerful player in the Chinese automation market.
Customers will beneﬁt from a joint portfolio shaped by two strong partners which will evenbetter meet their needs regarding speciﬁcations, technology and price. Combining ourcompetencies in industrial automation will also support the successful development of ourrespective companies,” says Thomas Fechner, Member of the management board of Bosch
Rexroth responsible for Factory Automation.

PRESS INFORMATION
Zhejiang Hechuan Technology is a technology-driven provider and has strong competence inlocal management. With fast response times and high manufacturing capability, the company hasbeen constantly enriching its product portfolio especially in the servo market. Zhejiang Hechuan
Technology has already gained a substantial position in the Chinese market. “Based on a sharedview on innovation initiatives, and by combining our strengths, we aim to become ecosystem
partners in the entire value chain of industrial automation, creating a better life with our work,”says Wang Xiangbin, Chairman of Hechuan Technology.
Supported by the incentives of ‘Transformation and Upgrading of the Manufacturing Industry’,
the potential of the Chinese automation market is very large, especially in the fast-growing
industries. The newly founded joint venture is planned to offer a complete automation productportfolio as well as FTS (Flexible Transport Systems), aiming to meet the requirements of local
customers related to speed and optimal cost-performance ratio.
The joint venture will set up its own direct sales and service network. Drawing on thecompetencies and resources of both partners, the new company is planned to be based inShanghai. The establishment of the joint venture is subject to the approval of various bodies,including the antitrust authorities.

Basic Information Bosch Rexroth
As one of the world’s leading suppliers of drive and control technologies, Bosch Rexroth
ensures eﬃcient, powerful and safe movement in machines and systems of any size. Thecompany bundles global application experience in the market segments of Mobile and IndustrialApplications as well as Factory Automation. With its intelligent components, customized systemsolutions, engineering and services, Bosch Rexroth is creating the necessary environment for
fully connected applications. Bosch Rexroth offers its customers hydraulics, electric drive andcontrol technology, gear technology and linear motion and assembly technology, including
software and interfaces to the Internet of Things. With locations in over 80 countries more than
32,000 associates generated sales revenue of around 7.0 billion euros in 2022.

Basic Information BoschThe Bosch Group is a leading global supplier of technology and services. It employs roughly
421,000 associates worldwide (as of December 31, 2022). The company generated sales of 88.2
billion euros in 2022. Its operations are divided into four business sectors: Mobility, Industrial
Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider,
Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Boschis pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise insensor technology, software, and services, as well as its own IoT cloud, to offer its customers
connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective isto facilitate connected living with products and solutions that either contain artiﬁcial intelligence(AI) or have been developed or manufactured with its help. Bosch improves quality of life
worldwide with products and services that are innovative and spark enthusiasm. In short, Boschcreates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbHand its roughly 470 subsidiary and regional companies in over 60 countries. Including sales andservice partners, Bosch’s global manufacturing, engineering, and sales network covers nearly
every country in the world. The basis for the company’s future growth is its innovative strength.
At 136 locations across the globe, Bosch employs some 85,500 associates in research anddevelopment, of which nearly 44,000 are software engineers.

Press Contact

PRESS INFORMATION
Please get in touch with our Press Contact

Jan Saeger

Head of Corporate
Communications+49 9352 182288
Jan.Saeger@boschrexroth.de