Scholz Embraces Siemens’ €1 Billion Plan as Money Leaves Germany
- Expensive energy, US subsidies threaten industrial base
- Siemens aims to expand factory capacity, increase R&D
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Siemens AG unveiled a €1 billion ($1.1 billion) investment in Germany, with Chancellor Olaf Scholz heralding the plan as his coalition works to reverse an exodus of capital from Europe’s biggest economy.
Scholz is sharing the stage on Thursday with Chief Executive Officer Roland Busch at Siemens’ vast facility in Erlangen, Bavaria, where the company will build a new 200,000 square meter technology campus and expand production capacity.