Reuters are reporting that Siemens is set to raise research spending and expand activities with start-ups to assist in its bid to keep its innovative edge as industry rapidly turns digital.
The company announced that it would raise research and development spending by 7% this year to US$5.2 billion, with the majority of this strengthening its automation, digitisation and energy systems.
"Innovation is part of our DNA," Chief Technology Officer Siegfried Russwurm commented.
The move coincides with the company’s decision to offer apprenticeships to young people who arrive in the country as refugees.
Siemens is one of a growing number of employers who believe asylum seekers are vital to Germany's economic future.
In December 2014, Siemens Limited announced that it had passed a key milestone in manufacturing and delivering International Efficiency class industrial motors by handing the 100 000th motor to UltraTech Cement Ltd.
Christian Pfeiffer has contracted Siemens to supply the integrated drive system and automation technology for the plant expansion on the island of Borneo.