Bosch to invest more than 400 million euros in chip production

The Robert Bosch logo at the company research and development center Campus Renningen during a media tour in Renningen, Germany, September 30, 2015. REUTERS / Ralph Orlowski

FRANKFURT, Oct. 29 (Reuters) – German tech group Robert Bosch (ROBG.UL) has earmarked more than 400 million euros ($ 467 million) for investments in chip production in Germany and Malaysia on next year to alleviate a global shortage.

The lack of chips for automakers has disrupted vehicle production around the world, with suppliers relying almost exclusively on chips from a few manufacturers in Asia and the United States. Read more

Most of Bosch’s budget will be spent on faster expansion of its factory in Dresden, Germany, for 300-millimeter inserts, which the group inaugurated in June, he said in a statement on Friday. Read more

About € 50 million will be invested at a site in Reutlingen near Stuttgart manufacturing 200-millimeter pads, said the company, which also manufactures auto parts and factory automation systems.

Another project to be funded will be the construction of a semiconductor testing facility in Penang, Malaysia, he added, without specifying the level of investment.

Intel (INTC.O), the largest maker of processor chips for PCs and data centers, said last month it could invest up to € 80 billion in Europe over the next decade. Read more

($ 1 = 0.8561 euro)

Reporting by Ludwig Burger; Editing by Jan Harvey

Our Standards: The Thomson Reuters Trust Principles.

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