Bosch plans to invest up to $100 million in Mexico this year

FILE PHOTO: A Volkswagen VW Golf test vehicle featuring Bosch's new diesel technology is seen at the Bosch factory in Stuttgart, Germany April 17, 2018. REUTERS/Michael Dalder

MEXICO CITY (Reuters) - Germany's Bosch, the world's largest car parts supplier, said on Thursday it plans to invest up to $100 million in Mexico this year, a 15% increase, mostly in new manufacturing lines and digitization projects.

Bosch said the resources will be allocated to its operations in Toluca, Mexicali and Hermosillo, as well as the implementation of a network motion control system for auto parts production.

Last year, Bosch invested $87 million in Mexico and had annual sales of $2.7 billion there, a 20% drop from a year earlier due to the impact of the coronavirus pandemic.

(Reporting by Sharay Angulo; Editing by Sam Holmes)

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