Siemens CEO announces plan for over 1000 new jobs.

Siemens Announces $2.17 Billion Investment Plan

Siemens, the German engineering giant, has revealed its ambitious investment plan worth 2 billion euros ($2.17 billion). This plan, which is more than double the company’s cumulative investment spending over the past two years, aims to create over a thousand jobs, according to CEO Roland Busch in an interview with Reuters.

As part of this investment, Siemens will construct new factories, research and development centers, and training sites worldwide. Busch also hinted at “a next wave of investments” in Europe and the United States, which will be announced soon.

Expanding Production and Meeting Market Demand

Busch revealed that 1.2 billion euros have already been allocated, with the majority of the remaining funds being used to expand production in Europe and the United States. He emphasized the strong demand from the market, stating, “We have to build up to capacity.”

One of the significant investments will be a new plant for Siemens’ industrial automation division in Singapore, costing 200 million euros. Operational from October 2025, this factory will primarily serve clients in Southeast Asia. Busch also expressed the likelihood of further investments in the region and India as those markets expand.

Siemens has raised its growth targets across all areas of operation, although specific details were not provided. Busch confidently stated that the company is “bullish” about its future prospects.

While Siemens aims to diversify its supply chains, it remains committed to investing in China. Busch affirmed, “We will keep on investing in China, and defending and expanding our market share.” This statement came shortly after his meeting with Chinese Industry Minister Jin Zhuanglong in Beijing.

Additionally, Siemens announced a 140 million euro investment to expand its digital factory in Chengdu, China. The company expects high demand for its automation technology in China, with the Chinese market predicted to pick up in the second half of the year.

($1 = 0.9223 euros)

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