Robert Bosch (ROBG.UL) 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.
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