Electronics giant Siemens has said that it is to invest €1bn into Germany.
The firm said in a statement that half of that investment would go towards a ‘Technology Campus’ in Erlangen, a town north of Nuremberg. It said that the site would be a ‘global research and development hub’, allowing it to accelerate its overall growth while driving innovation and increasing its resilience.
Olaf Scholz, Chancellor of Germany, said in a statement accompanying the announcement of the plans: “This investment is a strong signal for Germany as a location for innovation and production. The leading-edge manufacturing facility being built in Erlangen is a good example of how our economy is moving toward a climate-neutral future – as a strong industrial country with good sustainable jobs.”
The campus – which is to be built in the west of Erlangen – will focus on sustainable and future-oriented high-tech manufacturing, related research and development activities, and the opening of the location for an ecosystem of partners from the business and scientific communities. The plan for the location also calls for converting existing facilities and expanding the site.
Roland Busch, president and chief executive officer of Siemens, added: “Siemens is banking on innovation in Germany and launching the next stage of digitalization: we’re laying the foundation for the industrial metaverse in the Nuremberg metropolitan region.
“Here, on the new campus, we’re combining the real and the digital worlds. Together with partners, we’re developing new digital technologies in the metaverse and revolutionizing how we’ll run our production in the future – much more efficiently, flexibly, and sustainably.”
Siemens also said that it has investments in the US, China, and Southeast Asia. At the beginning of the week, the company announced its most recent investment project: the construction of new headquarters in Spain with an investment volume of €160m.
The company is not the only one to make such announcements in recent months. In March, Expert Investor wrote about how the car giant Mercedes was looking to build new plants both at home, in the town of Rastatt, and within Hungary, in the town of Kecskemet.
Jörg Burzer, the automaker’s production chief, reportedly told German publisher Automobilwoche the firm would begin building the Rastatt plant this year. This will be where the first model on its new compact vehicle platform will be made, starting in 2024. The firm also plans to modernise its plants in the German cities of Sindelfingen and Bremen.
