Robert Bosch opened a 1 billion euro ($1.2 billion) chip plant in Germany on Monday, in a record investment by the supplier as it gears up for the latest electric and self-driving cars.
The plant, located in a semiconductor hub near Dresden, enters service at a time of very tight supply and will increase Bosch’s ability to serve automakers directly and rely less on third-party manufacturers.
“Every chip that we make here in Dresden is one chip less that is lacking. That helps,” management board member Harald Kroeger told Reuters.
