Bosch to Spend $3 Billion to Bolster European Chip Supplies

Technology

Germany’s Robert Bosch GmbH is making a bigger bet on semiconductors with plans to spend 3 billion euros ($3 billion) to help ease a worldwide shortage of computer chips that has crimped vehicle production.

The auto-parts supplier said Wednesday it will make the investment by 2026 as part of European Union and German government efforts to double Europe’s share of global chip output to 20% by the end of the decade.