- The plant is located in a semiconductor hub near Dresden
- The Bosch plant, which received 200 million euros ($243 million) in state aid under a European Union investment scheme, will start making chips for power tools in July
As per a report by Reuters, Robert Bosch opened a 1 billion euro ($1.2 billion) chip plant in Germany. The plant is located in a semiconductor hub near Dresden.
The report added that management board member Harald Kroeger told Reuters in an interview that every chip made in Dresden is one chip less that is lacking. The Bosch plant, which received 200 million euros ($243 million) in state aid under a European Union investment scheme, will start making chips for power tools in July with output of automotive chips to follow from September, added the report.
Broader strategic push by Brussels to revive Europe’s semiconductor industry
Chancellor Angela Merkel and Margrethe Vestager, the vice-president of the European Union’s executive Commission, were due to take part in a virtual opening ceremony. The report added that Bosch quoted Vestager as saying that the state-of-the-art technology in Bosch’s new semiconductor factory in Dresden shows what outstanding results can be achieved when industry and government join forces.
It added that Kroeger said Bosch supported a broader strategic push by Brussels to revive Europe’s semiconductor industry. Its latest plan that was recently unveiled targets doubling the region’s share of chip production to 20 per cent by 2030
