Bosch CEO Denner announced a range of new connected products (Photo: Bosch)

Robert Bosch has formed a separate division that will focus on mobility technologies, including car sharing, ride sharing and connectivity-based services.

The German automotive supplier also announced that it had acquired Splitting Fares (SPLT), a US start-up that has developed a ride-sharing platform specifically aimed at companies and commuters.

Bosch has for the past 10 years been moving away from traditional automotive components and systems, focusing instead on the connected world known as the Internet of Things.

“Connectivity will fundamentally change how we get from A to B, and in the process it will help to solve today’s traffic problems," Bosch CEO Volkmar Denner said at the Bosch Connected World exhibition in Berlin last week. "We are using it to realize our vision of emissions-free, stress-free, and accident-free mobility.”

Denner said its COUP subsidiary, which introduced an e-scooter sharing program to Paris last year, will launch the service in Madrid in 2018.

And he said Bosch is adding cloud connectivity to its electrified powertrain components, which will let drivers more accurately gauge driving range.

An algorithm factors in vehicle data, the driver’s driving style and other information and then reliably calculates a vehicle's precise range.