ANL 20.85 Decreased By ▼ -1.48 (-6.63%)
ASC 13.54 Decreased By ▼ -1.06 (-7.26%)
ASL 23.00 Decreased By ▼ -0.65 (-2.75%)
BOP 8.20 Decreased By ▼ -0.08 (-0.97%)
BYCO 7.81 Decreased By ▼ -0.34 (-4.17%)
FCCL 17.80 Decreased By ▼ -0.17 (-0.95%)
FFBL 22.75 Decreased By ▼ -0.73 (-3.11%)
FFL 15.50 Decreased By ▼ -0.60 (-3.73%)
FNEL 7.35 Decreased By ▼ -0.62 (-7.78%)
GGGL 17.83 Decreased By ▼ -1.57 (-8.09%)
GGL 40.01 Decreased By ▼ -1.73 (-4.14%)
HUMNL 6.02 Decreased By ▼ -0.32 (-5.05%)
JSCL 18.30 Decreased By ▼ -1.07 (-5.52%)
KAPCO 36.35 Decreased By ▼ -0.83 (-2.23%)
KEL 3.40 Decreased By ▼ -0.08 (-2.3%)
MDTL 2.65 Decreased By ▼ -0.05 (-1.85%)
MLCF 35.10 Increased By ▲ 0.11 (0.31%)
NETSOL 129.40 Decreased By ▼ -9.90 (-7.11%)
PACE 4.75 Decreased By ▼ -0.37 (-7.23%)
PAEL 27.00 Decreased By ▼ -1.35 (-4.76%)
PIBTL 8.85 Decreased By ▼ -0.05 (-0.56%)
POWER 7.45 Increased By ▲ 0.15 (2.05%)
PRL 17.15 Decreased By ▼ -1.15 (-6.28%)
PTC 10.01 Increased By ▲ 0.01 (0.1%)
SILK 1.50 Decreased By ▼ -0.01 (-0.66%)
SNGP 45.00 Decreased By ▼ -0.30 (-0.66%)
TELE 18.89 Decreased By ▼ -1.52 (-7.45%)
TRG 162.70 Decreased By ▼ -6.80 (-4.01%)
UNITY 32.95 Decreased By ▼ -0.10 (-0.3%)
WTL 2.94 Decreased By ▼ -0.02 (-0.68%)
BR100 4,733 Decreased By ▼ -88.48 (-1.84%)
BR30 22,802 Decreased By ▼ -674.49 (-2.87%)
KSE100 45,297 Decreased By ▼ -300.36 (-0.66%)
KSE30 17,811 Decreased By ▼ -218.45 (-1.21%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,432
5824hr
Pakistan Cases
1,232,595
2,35724hr
4.9% positivity
Sindh
453,051
Punjab
425,703
Balochistan
32,812
Islamabad
104,619
KPK
172,210

DRESDEN, (Germany): Leading car parts supplier Bosch inaugurated a new semiconductor factory in Germany on Monday, hailed by Chancellor Angela Merkel as a boost to Europe’s efforts to reduce reliance on Asian chipmakers at a time of global shortages.

Speaking via video link at the opening ceremony, Merkel said homegrown semiconductors would “make Germany and Europe not just more crisis-proof, but also create new opportunities for growth”.

Bosch has invested roughly one billion euro ($1.2 billion) in the highly automated factory, the single biggest investment in the German firm’s 130-year history.

Merkel’s government has contributed 140 million euros.

The factory is located in Saxony state capital Dresden, a hi-tech hub in former communist East Germany colloquially known as “Silicon Saxony”.

Merkel has in recent months repeatedly lamented Europe’s dependence on foreign-made semiconductors, and said Monday that the current bottlenecks were “weighing on the economic recovery”.

A pandemic-fuelled surge in demand for home electronics has throttled global computer chip supplies, with manufacturers struggling to get their hands on the tiny yet critical components needed in everything from cars and planes to smartphones and game consoles.

But Merkel said even without the pandemic, the burgeoning “internet of things” universe was always going to fuel demand for semiconductors.

If Europeans “want to have a say” in the key market, “we need to catch up to Asia and the United States”, Merkel said.

“We have to be ambitious. Our competitors around the world aren’t sleeping.”

Addressing the same online ceremony, the European Commission’s competition chief Margrethe Vestager said the Bosch factory would “strengthen Europe’s competitiveness as a cradle for cutting-edge innovations”. She reiterated that the European Union aims to produce 20 percent of the world’s semiconductors by 2030.

Comments

Comments are closed.