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

Bush is the latest beneficiary of the “principle” Chips Law and Science Finance. Company I fell Non-binding agreement with the US Department of Commerce and could receive up to $225 million in financing.

Lest you think about Amazon The tough crime solver Somehow Bosch, also a German multinational that makes… pretty much everything under the sun, got a piece of the action. (This even includes A Deodorizing machine!) The company recently accelerated its silicon development process, buying TSI Semiconductors in 2023 and completing the deal early this year. But instead of focusing on cutting-edge silicon for computers, phones and artificial intelligence, Bosch specializes in chips for the automotive industry.

The company plans to use the funds at the Roseville, CA facility it acquired in the TSI deal. The company will invest up to $1.9 billion to transform the plant into a factory that produces silicon carbide (SiC) semiconductors, which are used to enhance the efficiency of driving and charging electric cars. Bosch expects the first 200mm wafers to be produced there in 2026.

“The Roseville investment enables Bosch to produce silicon carbide semiconductors domestically, supporting American consumers on the path to electrification,” Paul Thomas, president of Bosch North America and Bosch Mobility Americas, wrote in a statement.

In addition to strengthening America’s primacy in the chip industry, another goal of the CHIPS Act is to create jobs. The White House says the proposed funding would create up to 1,700 jobs, including 1,000 in construction and 700 in manufacturing, engineering, and research and development.

“Today’s agreement catalyzes nearly $2 billion in private investment and the creation of more than 1,700 jobs, while investing in critical technology that our defense and automotive industries depend on,” White House Deputy Chief of Staff Natalie Killian wrote.

In November, Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s leading manufacturer of advanced chips, forward To finalize CHIPS Act grants ($6.6 billion). Other recipients include Intel (Although it was funded Recently cut), HP, Samsung, GlobalFoundries, Texas Instruments and Rocket laboratory.