September 12, 2017 / 6:12 AM / 2 years ago

Bosch sees driver-assistance sales growing to 2 billion euros by 2019

Bosch parking deck is pictured near airport in Stuttgart, Germany, February 2, 2017. REUTERS/Michaela Rehle

FRANKFURT (Reuters) - Bosch [ROBG.UL], the world’s biggest car parts supplier, sees its annual sales of driver-assistance systems at 2 billion euros ($2.39 billion) as early as 2019 as it outpaces market growth of 25 percent a year, it said on Tuesday.

Driver-assistance systems provide features such as automatic braking, keeping cars in lane and alerting drivers to danger - and are the forerunners of fully automated driving.

Bosch, which also makes home appliances and industrial products, sees its overall automotive business growing by 7 percent to 47 billion euros this year.

The German group said it would be helped by the move to electric vehicles - led by China, where it already has a top position. It also supplies the powertrain system for Europe’s biggest electric-vehicle fleet, the German post office’s Streetscooters.

Chief Executive Volkmar Denner said Bosch was not betting solely on electrification, despite a heated current debate in Germany about driving bans in cities for polluting vehicles and the future of the combustion engine.

“For us, it’s not just the one or the other. We want to keep our technological options open, and not restrict ourselves to a single path,” he said at the Frankfurt car show.

Reporting by Georgina Prodhan; Editing by Laurence Frost

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