Dresden

The company will invest this money to boost chip production by opening two new development centres and expanding a wafer factory in Dresden

Bosch will invest EUR 3 billion (USD 3.01 billion) in chip production by 2026, including on opening two new development centres and expanding a wafer factory in Dresden, the company said on Wednesday. A total of EUR 170 million euros will go into the new development centres in Reutlingen and Dresden, with EUR 250 million to be spent on expanding the 1-billion-euro Dresden site that opened in June 2021.

Bosch, the world’s largest auto supplier, has applied for European Union funding to support the investment from an Important Projects of Common European Interests (IPCEI) budget to boost European chip production to 20 per cent of global output by 2030, from approximately 8 per cent now.

(Reuters)