Bosch signs agreement for up to $225 million in CHIPS Act funding

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Bosch signs agreement for up to $225 million in CHIPS Act funding

^{Published on 2024-12-13 16:42:17 - MSN}

CHIPS and Science Act funding. The company signed a non-binding agreement with the US Commerce Department and could receive up to $225 million in funding. Lest you think Amazon's gruff crime solver somehow got a piece of the action,

Bosch, a German engineering and technology company, has entered into an agreement with the U.S. Department of Commerce to potentially receive up to $225 million in funding under the CHIPS and Science Act. This funding aims to support Bosch's expansion of its semiconductor manufacturing capabilities in the United States, specifically at its facilities in Roseville, California, and a new site in Tijuana, Mexico. The investment will focus on increasing the production of silicon carbide (SiC) chips, which are crucial for electric vehicles, renewable energy systems, and other high-efficiency applications. This move is part of a broader strategy to enhance domestic production of critical technologies, reduce reliance on foreign semiconductor supply, and bolster the U.S. position in the global semiconductor market.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/technology/bosch-signs-agreement-for-up-to-225-million-in-chips-act-funding/ar-AA1vPpDB ]

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