BERLIN (Reuters) – Bosch will invest 3 billion euros ($ 3.01 billion) in chip making by 2026, including the opening of two new development centers and the expansion of a wafer factory in Dresden, the company said on Wednesday.
A total of 170 million euros will go to new development centers in Reutlingen and Dresden, with 250 million euros 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 investment from an Important Projects of Common European Interests (IPCEI) budget to boost European chip production to 20% of global output in 2030, from approximately 8% today.
($ 1 = 0.9964 euros)
(Reporting by Victoria Waldersee, Editing by Miranda Murray and Rachel More)