Europe Answers the Chip Shortage

Issue 74

With the global chip shortage continuing to put strains on the supply chain, Robert Bosch GmbH has opened a $1.2 billion factory near the city of Dresden in Germany, with the hopes of supplying Europe with semiconductors and reducing their reliance on imports from Asia.
         
Bosch’s decision to enter the chip manufacturing industry was based on the belief that global demand for semiconductors is expected to rise by 11% this year with the value of the market being over $487 billion.
         
This has been one major step in Europe’s attempt to become a leading producer of the world’s supply.  The European Union has recently made an initiative to produce 20% of the world's goods by the end of the decade.

Source: Bloomberg