Despite deteriorating conditions, the group is investing in Germany.
(Photo: Reuters)
Munich Despite the announcement that it would invest one billion euros in its home country, Siemens sees Germany as a business location at risk. The conditions had deteriorated significantly, said Siemens boss Roland Busch to the Handelsblatt. “We have become incredibly complicated and slow with everything. Internationally, this is increasingly becoming a competitive disadvantage.”
Siemens announced on Thursday that it would invest heavily in Germany. In Erlangen alone, 500 million euros are to be invested in the digitization and expansion of production. Components for power electronics and machine tool controls for mechanical engineering are manufactured in Erlangen – a core part of almost every factory in the world.
The investments are possible because it is not about energy-intensive production, but about electronics production, said Busch. “It thrives on innovation, excellent employees and an ecosystem in which research institutions, customers and suppliers are integrated.” Germany offers all of this to a large extent.
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