AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Follow us

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.

Merkel urges ‘catch up’ as Germany opens semiconductor factory

B2B barter trade mechanism: MoC empowered to impose conditions, curbs

Power tariff raise proposal not firmed up

CDWP approves seven projects worth Rs22bn

Tarin raises the alarm about inflation surge

Exchange rate: Removal of cap to inject stability into currency market: Bostan

Dar challenges financial figures presented by IK

TAL JV allowed to sell Mamikhel gas

Defence minister criticises ‘warmongering role’ of US

SNGPL says has reduced UfG losses by 23,348mmcf

FBR seeks to raise FED on motor vehicles