Business/economy

Bosch and the Principality of Monaco plan to work together on the connected city of the future

  • Partnership aims to conduct a study on improving quality of life in urban environments and on promoting sustainable development
  • Focus on modern services and infrastructure relating to mobility, energy, healthcare, and communications
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  • July 10, 2012
  • Business/economy
  • Press releases

press release

Stuttgart – Prince Albert II of Monaco today visited the corporate headquarters of Robert Bosch GmbH, where he met with Dr. Volkmar Denner, the chairman of the board of management, for talks.

In this context, the “connected city” concept was presented, which outlines the possibilities for connecting information and communications systems, buildings, institutions, and elements of the infrastructure.

The Principality of Monaco is interested in preserving the exceptionally high quality of life in the city state, and regards the concept as a further extension of its activities to promote sustainability. It hopes to develop and implement solutions in areas such as mobility, energy, healthcare, and communications.

With this in mind, a letter of intent was signed today. In it, the parties agree that Bosch will draw up a feasibility study for the Principality of Monaco relating to the “connected city.”

Bosch has recognized expertise in the technologies needed for this city concept. Over the past years, the company has devoted a lot of attention to the subject of connectivity, and worked in the areas of smart sensors and the internet of things and services. In addition, Bosch has extensive know-how when it comes to controlling complex systems.

“We are proud that we can use innovative Bosch technology to help a connected city of the future come into being,” Dr. Volkmar Denner said.

Prince Albert II of Monaco commented: “I am pleased that the letter of intent we have signed today will allow the study of innovative technologies that will ensure the principality's further sustainable development.”

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

PI7807 - July 10, 2012

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