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Entering 2025, three years into the OpenAI-led AI cycle, the industry remains in a full-on AI investment phase. Based on our recent work, Dolphin Research sees 2026 hinging on compute cost-down and on AI capex translating into deployments across software and hardware.The rollout of new hardware is the true incremental driver. Meanwhile, mass production of Tesla's Optimus is drawing closer, and humanoid robots could become the primary AI form factor, reshaping human interaction and productivity.On this premise, Dolphin Research is launching coverage on the robotics supply chain. This is Part 1.

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Humanoid Robots: AI's Best Hope?

Kodiak AI and Bosch Partner to Develop Autonomous Truck Platform

Bosch Collaborates with CARIAD on AI Driving Assistance

Non-road electro-hydraulic market expected to reach 234,487 units by 2032

Bosch CEO Warns Excessive EU Regulation Could Hinder AI Development

Peking University Chongqing Carbon-based IC Research Institute Launches First Domestic Carbon-based IC Production Line

Chinese Customs Withhold Low-Performance Rare Earth Magnets

Bosch CEO: Trade Restrictions May Increase Regional Product Differences

Bosch Signs Strategic Partnership with Horizon Robotics

Bosch acquires Johnson Controls and Hitachi's residential and small commercial building heating, ventilation, and air conditioning business

Qualcomm and Bosch launch the first car central computing platform that can simultaneously run infotainment and advanced driver assistance system functions on a single system-level chip

The automotive HUD market is projected to grow from USD 2.41 billion in 2026 to USD 4.71 billion by 2033, at a CAGR of 10.1%. Key drivers include the integration of advanced display technologies, increasing demand for smart HUD systems, and the rise of aftermarket installations. Companies like Robert Bosch GmbH and Nippon Seiki Co., Ltd. are advancing next-generation HUD technologies, while combiner HUDs are gaining traction for their cost-effectiveness and compatibility across various vehicle types. The market is evolving towards intelligent driver interface solutions with enhanced connectivity and software-driven features.

prnewswire

Nippon Seiki Co., Ltd.

Panasonic Corporation

06:16 ETAutomotive HUD Market worth $4.71 billion by 2033 | MarketsandMarkets™

Philipp Ibele from Bosch discusses the impact of Chinese advancements in electromobility on Western automakers. Bosch leverages global strength and local flexibility to create resilient supply chains and high-quality components. In China, tech-savvy customers prioritize in-vehicle user experience and competitive pricing, leading Bosch to focus on standardization and cost reduction. While electric powertrains are viewed as commodities by some Chinese manufacturers, Bosch sees potential for innovation. They aim to offer competitive pricing through local manufacturing and global platforms, emphasizing system expertise to enhance efficiency and performance in electric vehicles.

electrive

CATL

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CATL HK SDR 30to1

BYD HK SDR 10to1

BYD Company

BYD Company Limited

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“Combining Chinese speed with our global system expertise” – Philipp Ibele of Bosch

Bosch reported a sales revenue of 91.0 billion euros for 2025, with an EBIT margin of 2.0%. The company plans for sales growth of 2-5% and an EBIT margin of 4-6% in 2026, despite geopolitical tensions. Bosch invested 12 billion euros in R&D and capital expenditure in 2025. The company aims to enhance competitiveness through cost-cutting measures and innovation, particularly in the automotive sector. Bosch anticipates continued economic challenges but remains focused on maintaining sales levels and improving future viability through strategic investments and regional adaptations.

Zawya

ZAWYA: Strategy 2030: Bosch plays to its innovative strengths

Bosch shares rose 3.77% to ₹37,290 following the announcement of its acquisition of Bosch Chassis Systems India for up to ₹9,068.68 crore. The acquisition aims to enhance Bosch's mobility portfolio and strengthen its market position in India's automotive sector. Analysts at Motilal Oswal retained a 'Neutral' rating, noting the deal's favorable pricing for minority shareholders and projecting a 5% EPS accretion for FY25. The target price was revised to ₹35,323, although the stock has already surpassed this level.

Business Standard

Bosch shares outperform markets with 4% gain on strategic acquisition news

Bosch Limited Schedules Investor and Analyst Meet on April 13, 2026

Tip Ranks

Bosch Limited Schedules Investor and Analyst Meet on April 13, 2026

Bosch Limited Seeks Shareholder Nod via Postal Ballot for Group Investment and Preferential Issue

Bosch Limited Seeks Shareholder Nod via Postal Ballot for Group Investment and Preferential Issue

Bosch sets May 20 board meet for FY26 results, closes trading window

Bosch sets May 20 board meet for FY26 results, closes trading window

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Bosch and Tata AutoComp Systems are forming a joint venture to develop electric powertrains in India, with operations expected to start by mid-2026. The new entity, equally owned by both companies and based in Pune, aims to enhance the e-mobility market in India. The partnership has been approved by both boards but awaits antitrust clearance. Bosch, which has invested over six billion euros in electric mobility, sees this collaboration as a strategic move to leverage local expertise and technology in the growing Indian market.

Hwabao WP CSI Intelligent Electric Vehicle ETF

Hua Xia CSI New Energy Vehicles ETF

First Trust S-Network Future Vehicles & Tech ETF

Bosch and Tata set up joint venture for electric powertrains in India

Bosch Engineering has unveiled an 800-volt electric powertrain designed for heavy-duty trucks and off-highway machinery, aimed at enhancing electrification in logistics. The system, featuring the SMG230 electric motor and a silicon carbide inverter, offers high power density and efficiency, with a continuous output of 188 kW and peak torque of 550 Nm. It is set to be showcased at LogiMAT from March 24-26, 2026, and is designed for easy integration into existing machinery, promising robustness and reliability for intralogistics applications.

Bosch presents electric powertrain for heavy-duty trucks and off-highway machiner

BOSCH(BOSCH.NA)

06:16 ETAutomotive HUD Market worth $4.71 billion by 2033 | MarketsandMarkets™

“Combining Chinese speed with our global system expertise” – Philipp Ibele of Bosch

ZAWYA: Strategy 2030: Bosch plays to its innovative strengths

Bosch shares outperform markets with 4% gain on strategic acquisition news

Bosch Limited Schedules Investor and Analyst Meet on April 13, 2026

Bosch Limited Seeks Shareholder Nod via Postal Ballot for Group Investment and Preferential Issue

Bosch sets May 20 board meet for FY26 results, closes trading window

Bosch and Tata set up joint venture for electric powertrains in India

Bosch presents electric powertrain for heavy-duty trucks and off-highway machiner