Reuters
Bosch opens German chip plant, its biggest-ever investment
BERLIN (Reuters) -Robert Bosch opened a 1 billion euro ($1.2 billion) chip plant in Germany on Monday, a record investment by the leading automotive supplier as it stakes a claim to equipping the latest electric and self-driving cars. The plant, located in a semiconductor hub near Dresden, opens as the automotive industry battles a global chip shortage, and will increase Bosch’s ability to serve carmakers directly, relying less on third-party manufacturers. Addressing an online opening ceremony, Chancellor Angela Merkel said semiconductor shortages were hampering Germany’s economic recovery, and that it was important to strengthen resilience against external supply disruptions.