Siemens to invest $500+ million in US manufacturing
Siemens is pushing its US investments to support high-growth markets like data centres, batteries, semiconductors, EV charging and rail transportation. In total, the company's investments in the US will create a total of around 1,700 jobs.
Siemens has announced that it will be investing USD 150 million in a new high-tech manufacturing plant in Dallas Fort Worth as it looks to play a part in powering American data centers and critical infrastructure. The new plant will produce reliable and efficient electrical equipment. With the investment, Siemens is looking to support long-term customers in the data centre space, where demand is expected to grow by around 10% annually through 2030.
“There’s never been a better time to invest in critical electrical infrastructure and green mobility to support the backbone of America’s economy. The hardware and software we offer – produced through our expanded U.S. manufacturing presence – will ensure that growing industries can meet demand while continuing to make progress in decarbonizing operations,” says Roland Busch, President and CEO of Siemens AG, in a press release. “With this latest step, Siemens is delivering on its EUR 2 billion global investment strategy for 2023 to boost growth, innovation and resilience.”
Earlier this year, Siemens announced a USD 220 million investment in a new rail manufacturing facility in Lexington, North Carolina. Construction of this facility is now underway. In addition, the company is investing in two electrical-products manufacturing plants in Grand Prairie, Texas, and Pomona, California. Collectively, these projects push the company's overall investment in the US this year to USD 510 million, which will create Siemens 1,700 jobs as a result.
With the new Fort Worth facility and the Grand Prairie and Pomona extensions, Siemens aims to meet booming demand for the electrification of critical infrastructure – in other words, data centres, battery plants, semiconductor facilities and EV charging. Production at the new facility in Fort Worth is expected to start in calendar year 2024, gearing up for full operations in 2025.
