Daily Management Review

Apple to invest €1B in Germany


Apple has announced that it will invest €1 billion in Germany in the coming years.

Håkan Dahlström
Håkan Dahlström
Most of the money will go towards creating the company's European centre in Munich to develop memory chips for 5G networks and other mobile wireless communications equipment. According to Apple, the Munich facility will be the largest of its kind in Europe.

Apple already has seven offices in Munich that employ around 1,500 people. The new centre is due to open in the city by the end of 2022 and Apple plans to hire several hundred engineers and others to work there. Apple's decision to invest in a chip development centre in Germany was announced amid a shortage of memory chips in the auto industry and several other areas.

On Tuesday, March 9, EU authorities announced a programme to develop its own semiconductor manufacturing and reduce dependence on Chinese, South Korean and other manufacturers. While the EU now accounts for less than 10 per cent of global memory chip production, by 2030 the share is expected to rise to at least 20 per cent under the programme.

source: ft.com