Bosch Suggests to Spend $3 Billion to Help Resolve Chip Issue
Bosch plans to invest in $3 billion in its semiconductor business by 2026. The investment will address a range of industry needs including testing centers, research into new kinds of chips and producing microchips. The only downside is the investment will not go all to automotive. It will also go to different electronics such as coffee makers, toasters, home security systems, power tools, video surveillance products and air conditioners.
Currently the auto industry has been competing with electronic companies to buy back chip allocations. Bosch is hoping to help alleviate the global scramble for chips.