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Manila Bulletin devider Business devider The Stock Market devider AC Industrials, Bosch to jointly seek new business opportunities

AC Industrials, Bosch to jointly seek new business opportunities

Published Mar 21, 2024 05:49 am

The Ayala Group’s AC Industrials has signed a memorandum of understanding (MOU) with Bosch Philippines that seeks to explore new business opportunities for the mutual benefit of both parties and development of the domestic market.

In a statement, Ayala said AC Industrials and Bosch Philippines intend to explore potential business activities in various industries, including mobility solutions, manufacturing, energy, and healthcare, among others.

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Jaime Alfonso Zobel de Ayala, CEO of ACMobility and co-CEO of AC Industrials

Jaime Alfonso Zobel de Ayala, CEO of ACMobility and co-CEO of AC Industrials, solidified Ayala Group's partnership with Bosch Philippines during the Philippine-German Business Forum held in Berlin last week, the firm added.

The signing was witnessed by President Ferdinand R. Marcos Jr. At the panel discussion after the signing, Zobel emphasized how Bosch supports ACMobility's goal of building the first and the largest EV platform in the Philippines.

"We're really excited to expand our synergies with Bosch. As we see the EV transformation happen in the country, we're really excited to explore more ways to continue working with our partners as well as sharing expertise and innovative practices," he said.

Bosch Regional President for Southeast Asia Vijay Ratnaparkhe said in a statement that, "Bosch collaborates with strong Filipino key partners such as Ayala. We try to contribute to our partners’ success."

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Last year, Ayala's mobility arm ACMobility entered into a strategic partnership with Bosch to incorporate integrated vehicle technology in its aftersales operations.

Bosch Car Service will offer mechanical repairs to intricate electronics, engine systems, safety features, comfort upgrades, transmission expertise, and a host of other services and diagnostics.

This year, ACMobility and Bosch plan to open 20 new outlets in the country, expanding to up to 60 outlets over the next five years.

Related Tags

ACMobility AC Industrials Bosch Jaime Alfonso Zobel de Ayala
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