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These investments aim to drive future growth, promote innovation and strengthen adaptability. Accordingly, Siemens also announced the investment in building a high-tech factory in Singapore to serve the rapidly growing Southeast Asian markets.
Speaking about this announcement, Mr. Roland Busch, President and CEO of Siemens AG said: “Our technology meets long-term growth trends where our customers need support to can become more competitive, more resilient and adaptive, and can develop more sustainably. Siemens is currently achieving growth significantly above market levels.”
“Today, we unveil our investment strategy to drive future growth, accelerate innovation and strengthen adaptability. These investments reinforce Siemens’ strategy of combining the physical and digital worlds and its focus on diversifying and bringing its business closer to home. We continue to strongly assert our presence to support growth in the most potential markets around the world.”
In addition, according to Siemens, it is expected that the Group’s investment in research and development (R&D) activities will also increase by about 0.5 billion Euro in the fiscal year 2023 compared to the previous year, focusing on the following areas: such as artificial intelligence and virtual space technology.
The R&D investment is aimed at consolidating Siemens’ leading position in core technologies including simulation, digital twin, artificial intelligence or power electronics, as well as supporting the development of enterprise platforms The opening number is Siemens Xcelerator.
The Group recently announced a partnership with Microsoft to accelerate the process of building encoders for use in the industrial automation industry using ChatGPT. Together with NVIDIA, Siemens is working to develop virtual space technology for industry to improve the design, planning, production and operation of factories and infrastructure.
In addition, to meet the growing demand in the Southeast Asian market, Siemens has also just announced the investment in a completely new high-tech factory located in Singapore, which will be built using advanced technologies. Digital twin technology combined with Siemens’s own leading modern, smart hardware technology with an investment value of about 200 million Euros. The factory will set a new standard for connectivity to demonstrate the possibilities of digitalization, while integrating highly automated production processes. Investment in this factory will create more than 400 jobs.
Earlier this year, Siemens also made important announcements such as committing to expand production in the town of Trutnov, Czech Republic, and increasing the capacity of the Digital Factory in the city of Amberg, Germany. Furthermore, Siemens invested 30 million Euros to expand its switching equipment factory in Frankfurt-Fechenheim, Germany, while Siemens Mobility recently announced spending 220 million dollars to build a new factory. new rolling stock in Lexington, North Carolina, to meet the growing demand for passenger trains in the United States. This factory will create more than 500 jobs by 2028.
