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Siemens presents €2 billion investment strategy to boost future growth, innovation and resilience including around €200 million for a high-tech factory in Singapore 

New high-tech factory in Singapore

MoU signing ceremony by Lim Tse Yong, SVP & Head of EDB, Thai-Lai Pham, CEO of Siemens ASEAN, and Leow Thiam Seng, Group Director of JTC Corporation. Witnessed by Jacqueline Poh, MD of EDB, Roland Busch, CEO of Siemens AG, and German Ambassador to Singapore, Dr. Norbert Riedel

Mr. Cedrik Neike and Dr. Roland Busch at press conference

“Our technologies address secular growth trends where our customers need our support to become more competitive, resilient and sustainable. Siemens is experiencing significantly above-market growth. Today we announce an investment strategy to boost future growth, drive innovation and increase resilience,” said Roland Busch, President and Chief Executive Officer of Siemens AG.
“The investments underpin our strategy of combining the real and the digital worlds – as well as our focus on diversification and local-for-local business. We are clearly doubling down on our strong global presence to support growth in the most relevant markets in the world.”
In addition, there is an expected increase of around €0.5 billion in research and development (R&D), such as artificial intelligence and the industrial metaverse, in fiscal year 2023 versus prior year. This R&D is focused on strengthening Siemens’ leading position in core technologies including simulation, digital twins, artificial intelligence or power electronics, as well as supporting the development of the Siemens Xcelerator open digital business platform. The company recently announced a partnership with Microsoft to speed up code generation for industry automation by using ChatGPT. With NVIDIA, Siemens is working to build the industrial metaverse to improve design, planning, production and operation of factories and infrastructures.
New and additional capacities in Southeast Asia

To meet growing demand in Southeast Asia, Siemens today announced an entirely new high-tech factory in Singapore, which will be developed using Siemens' own leading digital twin and innovative, intelligent hardware technologies. Investment in the factory will be around €200 million. The plant will set a new standard for connectivity to showcase the possibilities of digitalization, as well as incorporating highly-automated manufacturing processes. The investment will create over 400 jobs. 
“Siemens’ new high-tech factory in Singapore will leverage our trusted hub status and strong advanced manufacturing capabilities to meet rising demand across Southeast Asia’s high-growth markets. Manufacturing remains a key pillar of Singapore’s economy and we welcome Siemens’ collaborations with our local ecosystem to better serve customers in the region through the use of new digital and automation technologies. We look forward to deepening our partnership with Siemens and creating good jobs for Singaporeans in the process,” said Png Cheong Boon, Chairman of the Singapore Economic Development Board (EDB).
All-regions strategy with wave of global investments
As part of its investment strategy and fast-growing business in China, Siemens will also expand its digital factory in Chengdu to serve the local growth opportunities in China for China, investing €140 million (RMB 1.1bn) and creating 400 new jobs. Many of Siemens’ Chinese customers are early adopters of new technologies especially in digitalization and high-tech manufacturing. This is why Siemens also announced the investment in a new digital R&D Innovation Center in Shenzhen to speed up development of motion control systems with digitalization and power electronics technology. The Siemens Xcelerator open digital business platform was launched in China in November 2022.
Series of announcements
Earlier this year, Siemens committed to expand production in Trutnov, Czech Republic, to enhance capacity at its WEF Global Lighthouse Factory in Amberg, Germany. Moreover, Siemens invests €30 million to expand its switchgear plant in Frankfurt-Fechenheim, Germany, while Siemens Mobility recently announced spending $220 million to build a new rolling stock factory in Lexington, North Carolina, to meet growing demand for passenger trains in the United States. The plant will create more than 500 jobs by 2028.
The planned €2 billion investments and expected increase of around €0.5 billion in research and development include Siemens Healthineers.
115 years in Singapore
The investment in Singapore will create jobs within several functions, such as advanced manufacturing, supply chain management, quality management, finance and others. Siemens set up its first technical bureau in Singapore in 1908, the first German industrial company to do so, and celebrates its 115th anniversary in 2023. Siemens currently employs around 1,200 people in Singapore.

Note to editors

1) Siemens will commemorate its 115th anniversary in Singapore with a gala dinner on 15 June 2023, with Mr Heng Swee Keat, Deputy Prime Minister of Singapore and Coordinating Minister for Economic Policies, as the Guest-of-Honor.
2) Siemens has focused on developing its business in all regions for many years, with the goal to establish value chains as close to customers as possible and establishing an ecosystem of partners. This successful global expansion is reflected in the company’s regional sales: In fiscal 2022, 47 percent of sales of Siemens are attributable to Europe, the Middle East and Africa (EMEA), 29 percent to North and South America, and 25 percent to Asia/Australia. Earlier this fiscal year, Siemens reported a record order backlog of €105 billion and raised its guidance for the second time this year. Siemens expects additional growth potential for Digital Industries, Smart Infrastructure and Mobility in their addressable markets of around €175 billion over the next five years.

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Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at
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Notes and forward-looking statements
This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report (, and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decisions, assessments or requirements of regulatory authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
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Sharon Teo

Siemens Pte Ltd

+65 9788-0207