The investment will see the funds put into developing Siemensstadt (Siemens City) 2.0 which aims to transform a large industrial area into a modern, urban district of the future for a number of different uses.
It is hoped that the investment will help to strengthen key technologies and innovation fields in partnership with the scientific and business communities.
“The idea behind the founding of Siemensstadt in 1897 was to combine space for working, researching and living to cultivate a beneficial symbiosis for a successful future. Today, too, we need to rethink the future of work. Megatrends like industrialization and urbanization will usher in fundamental changes,” said Joe Kaeser, President and CEO of Siemens AG.
