Siemens to invest €2 billion in global expansion and innovation
New factories, research centers, and training sites will be established worldwide
Investments aim to address global challenges and strengthen Siemens' position
Siemens' Billions Investment: New Factories, Research Centers, and Training Sites to Tackle Global Challenges
Siemens strengthens its position with a €2 billion investment for growth and innovation; Image: Business Recorder
Siemens, the renowned German technology and engineering conglomerate, has announced a €2 billion investment in a comprehensive global expansion and innovation strategy. The company will establish new factories, research centers, and training sites worldwide to meet the increased demand triggered by global stimulus packages.
As part of the program, Siemens will invest €200 million in building a state-of-the-art facility for its industrial automation division in Singapore. This investment underscores the company's commitment to technological advancement and its position as a frontrunner in the industry.
By increasing research and development spending by €500 million this year, Siemens is strengthening its innovation power and driving groundbreaking solutions. With a workforce of 311,000 employees worldwide, the company serves as a key indicator of the health of the global industrial economy.
The investments will not only address the challenges posed by the COVID-19 pandemic and rising geopolitical tensions but also further expand Siemens' market share.
The company expects its total addressable market to grow by 7% annually between 2022 and 2027, driven by stimulus programs such as the Inflation Reduction Act in the United States and Europe's Green Deal.
Siemens' ambitious investment program demonstrates its confidence in the future and its ability to respond to global challenges. It ensures that the company maintains its position as one of the industry's leading players while driving innovation and growth.
