Bosch Opens Massive Chip Factory In Germany
German technology company Bosch has opened a €1billion chip factory in the eastern city of Dresden to help meet the growing demand for semiconductors.
A global shortage of semiconductors has forced major auto companies such as Volkswagen and BMW to slow vehicle production in recent months.
Bosch, a major supplier to the car industry, said the factory is the biggest single investment in its 130-year history.
It will employ 700 people to produce silicon wafers containing tens of thousands of custom-made chips that will control airbags, braking and parking control systems.