Ayala Corp.’s AC Industrials and Bosch Philippines, through Bosch Service Solutions Inc., signed a memorandum of understanding (MOU) that seeks to explore new business opportunities for the mutual benefit of both parties.
AC Industrials and Bosch Philippines intend to explore potential business activities in various industries, including mobility solutions, manufacturing, energy and healthcare, the company said.
Jaime Alfonso Zobel de Ayala, CEO of ACMobility and co-CEO of AC Industrials, noted how Bosch supports ACMobility’s goal of building the first and the largest electronic vehicle 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 excited to explore more ways to continue working with our partners as well as sharing expertise and innovative practices,” Zobel said during the Philippine-German Business Forum held in Berlin.
“Bosch collaborates with strong Filipino key partners such as Ayala. We try to contribute to our partners’ success,” Vijay Ratnaparkhe, regional president for Bosch in Southeast Asia, said.
Last year, Ayala’s mobility arm ACMobility entered into a strategic partnership with Bosch to incorporate integrated vehicle technology in its after-sales 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.
Ayala has been making huge investments in electric vehicles as its research showed that between 10 percent to 20 percent of vehicles that will be sold in the country by 2030 will be electric.
Jaime Augusto Zobel de Ayala, the company’s chairman, said there will be growing consumer preference for EVs due to more favorable government regulation and the construction of more charging stations.
Last week, Ayala reported that its income jumped by 39 percent last year to P38.07 billion from the previous year’s P27.39 billion, mainly on the strong contribution of its banking, property development and energy businesses.
Revenues grew 11 percent to P341.89 billion from the previous year’s P306.64 billion.
“We succeeded in getting aggregate core earnings to exceed the pre-pandemic high. Now we focus on getting better operating and financial results from each of our businesses, and on rationalizing the portfolio where it makes sense to do so,” Ayala President and CEO Cezar P. Consing said.