Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
Bosch to invest $3 billion in chip production
By Shubhangi Mathur - Jul 13, 2022, 09:02 PM ET
Last Updated - Jul 18, 2023, 04:47 PM EDT
• The company said supply bottlenecks will last till 2023 for some types of chips
Bosch announced on Wednesday it would invest 3 billion euros, or $3.01 billion, in chip production by 2026.
“We’re gearing up for continued growth in demand for semiconductors – also for the benefit of our customers,” said Chief executive Stefan Hartung.
The company said it plans to use 170 million euros towards construction of new development centres in Germany and 250 million euros towards expanding its wafer fab in Dresden.
Bosch expects supply bottlenecks to ease in 2022 but said it will last till 2023 for some types of chips.
Picture Credits: Reuters
ALSO READ:
Mercedes set to start electric bus assembly in Brazil
Netflix partners with Microsoft for ad-supported subscription model
Sponsored
Read More from Investing
Popular News
Latest News