Bosch Signed a Preliminary Memorandum of Terms (PMT) under CHIPS and Science Act

Bosch has signed a preliminary memorandum of terms (PMT) under the CHIPS and Science Act with the U.S. Department of Commerce (DoC). It includes up to $225 million in proposed direct funding to support the transformation of the Bosch production facility in Roseville, California. The proposed investment would support the development of semiconductor manufacturing in the U.S. Bosch plans to invest up to $1.9 billion to transform the Roseville site into a facility that produces and tests silicon carbide (SiC) semiconductors. The Roseville site currently employs around 250 associates with potential to grow in the future.