Bosch to create semiconductor division from January 2028

(Corrects to ‌remove reference ​to 'spin ​off' in headline and first paragraph)

Nov 3 (Reuters) - ‌Bosch, the world's top automotive supplier, ⁠will set up a dedicated ‌semiconductor division from January ‌2028, it said on Tuesday.

• The German firm said it ​aims to increase sales of the small components ⁠used in cars and e-bikes to 5 billion ​euros ($5.59 billion) by 2030

• Currently, the semiconductor activities are ​part of the ‌Mobility Electronics division

• The firm will increasingly open ⁠its manufacturing capacities to external partners and strategically expand its foundry ⁠business, it added

• Bosch, which relies ​on a network of around 40 semiconductor sites worldwide for research, development, ‌and manufacturing, plans to further expand its test ‌centre in Penang, Malaysia, by ⁠the middle ‌of the ​2030s

($1 = 0.8937 euros)

(Reporting by Paolo Laudani, Editing by Friederike ‌Heine)

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