CAPTION: German engineering giant Siemens has announced a 2 billion euro investment program in factories and R&D in Asia, the United States, and Europe. (picture alliance / dpa / Jan Woitas)
German engineering giant Siemens has announced a 2 billion euro investment program in factories and R&D in Asia, the United States, and Europe. For example, a high-tech factory for the production of automation technology, creating 400 new jobs, is to be built in Singapore for 200 million euros, the company announced on Thursday. The company’s will also invest 140 million euros in expanding its plant in Chengdu, China, creating another 400 new jobs. The group also said it planned further investments in Europe and the US, which will be announced later this year.
Together with some investments announced earlier this year, including in the Czech Republic, Amberg in the southern German state of Bavaria, Frankfurt, and the US, the investment plans are expected to total around 2 billion euros. This would leave around 1 billion euros for the as yet unspecified investments in Europe and the US. These figures include the majority shareholding in Siemens Healthineers.
This also applies to a planned 0.5 billion euros increase in investment in research and development compared with the previous year. The focus is to be on the areas of artificial intelligence and the industrial metaverse, in which Siemens is collaborating with Nvidia and Microsoft, among others.
Siemens is experiencing significant above-market growth, Siemens CEO Roland Busch said. "Today we announce an investment strategy to boost future growth, drive innovation and increase resilience." He said the investments underpin the group's strategy to "connect the real and digital worlds, as well as our focus on diversifying and localizing our business." Siemens is clearly committed to a strong global presence, he said.
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