Siemens to invest EUR 2B to boost future growth, innovation

In a press release, Siemens said, “To boost future growth, drive innovation and increase resilience, Siemens presented its investment strategy which includes EUR 2 billion mainly for new manufacturing capacity as well as innovation labs, education centers and other own sites. Siemens today announced a new high-tech factory in Singapore, to serve the booming Southeast Asia markets. New high-tech factory in Singapore. In addition, there is an expected increase of around EUR 0.5 billion in research and development, such as artificial intelligence and the industrial metaverse, in fiscal year 2023 versus prior year. This R&D is focused on strengthening Siemens’ leading position in core technologies including simulation, digital twins, artificial intelligence or power electronics, as well as supporting the development of the Siemens Xcelerator open digital business platform. The company recently announced a partnership with Microsoft to speed up code generation for industry automation by using ChatGPT. With NVIDIA, Siemens is working to build the industrial metaverse to improve design, planning, production and operation of factories and infrastructures…To meet growing demand in Southeast Asia, Siemens today announced an entirely new high-tech factory in Singapore, which will be developed using Siemens’ own leading digital twin and innovative, intelligent hardware technologies. Investment in the factory will be around EUR 200 million. The plant will set a new standard for connectivity to showcase the possibilities of digitalization, as well as incorporating highly-automated manufacturing processes. The investment will create over 400 jobs…As part of its investment strategy and fast-growing business in China, Siemens will also expand its digital factory in Chengdu to serve the local growth opportunities in China for China, investing EUR 140 million and creating 400 new jobs. Many of Siemens’ Chinese customers are early adopters of new technologies especially in digitalization and high-tech manufacturing. This is why Siemens also announced the investment in a new digital R&D Innovation Center in Shenzhen to speed up development of motion control systems with digitalization and power electronics technology. The Siemens Xcelerator open digital business platform was launched in China in November 2022.”