Bosch, the world’s largest auto parts supplier, plans to reorganize its car-supply business to better meet clients’ demands, according to a statement from Chairman Stefan Hartung on Thursday. Bosch Mobility, currently known as Mobility Solutions, will become a separate entity and operate independently starting Jan. 1, 2024, with a revenue target of more than €80 billion by 2029, up from last year’s €52.6 billion. Bosch China President Chen Yudong said in a briefing with reporters that the move should provide his team with more decision-making autonomy in the face of increasing competition in China, after the Bosch China’s growth rate slowed in Q1 2023. However, Chen expressed confidence in the full-year outlook for Bosch’s China business. [Jiemian, in Chinese]