Bosch plans €1 billion investment in German chip production

According to Handelsblatt Global, the factory is expected to manufacture chips for sensor technology used in autonomous cars – and the with the new plant the company would create up to 700 new jobs. Worth mentioning is that earlier in April, Bosch announced that the company was working together with Daimler on fully automated, driverless system. The two companies are planning on setting up a development alliance that aims to make a system for fully automated and driverless vehicles a reality on city streets by the start of the next decade. According to media reports the plant will produce MEMS on a large scale. The company is said to receive backing from state funds in regards to the investment, however, Bosch has declined to comment on the media reports when asked by Handelsblatt.