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20 06 2017 02

MUNICH -- Robert Bosch has confirmed it will build a 1 billion-euro ($1.1 billion) semiconductor plant in Germany, the biggest single investment in its history, as the supplier prepares for a surge in demand for components used in self-driving vehicles.

The factory in Dresden will start producing chips needed for autonomous vehicles, smart homes and Internet-linked city infrastructure in 2021, the company said Monday in a statement, confirming a report from Reuters last week.

The plant will employ as many as 700 workers once construction is complete in 2019.

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