Bosch to create semiconductor division from January 2028

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

Nov 3 : 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