Companies in Munich

Siemens Energy was born from a divorce: in 2020, Siemens spun off its entire energy business — gas and steam turbines, wind power, grid technology, and industrial applications — into an independent company, giving it the freedom to compete (and fail) on its own. The new company inherited a portfolio that powers much of the modern world: Siemens gas turbines generate electricity in hundreds of power plants, and its high-voltage direct current (HVDC) technology transmits power across continents. The business has three pillars: gas services (turbines and their long-term maintenance contracts), grid technologies (transformers, switchgear, and the HVDC systems that connect offshore wind farms to the grid), and Siemens Gamesa — its wind turbine business and the source of its biggest headaches, with quality problems in onshore turbines that have forced massive write-downs and restructurings. With about 96,000 employees and annual revenue near €33 billion, Siemens Energy is a bet on the energy transition: its grid business is booming as the world electrifies, its electrolyzer business (hydrogen production) is growing, and its turbine service contracts generate steady recurring revenue. For utilities and energy developers, Siemens Energy is one of the few companies that can deliver the entire power chain — from turbine to transmission line.

Infineon's roots run through the entire history of European semiconductors: it began as the semiconductor division of Siemens, was spun off as an independent company in 1999, and is now the world's leading supplier of automotive semiconductors — the chips that manage everything from engine control to airbags to EV power trains. On average, a modern car contains more than a hundred Infineon chips. The company's technical edge is power: Infineon is the global leader in power semiconductors — the devices that switch and convert electrical power — including IGBTs and silicon carbide (SiC) modules that are essential to electric vehicles, solar inverters, wind turbines, and data center power supplies. It also makes the security chips in passports and payment cards, and radar and MEMS sensors for cars and consumer devices. With about 58,000 employees and annual revenue near €16 billion, Infineon has ridden the EV and renewable energy booms to record results, and its new SiC factories in Malaysia and Austria are among the largest power semiconductor investments in Europe. For the auto industry, Infineon is a critical dependency — the kind of supplier whose chips are designed into platforms years before production, and whose capacity constraints can ripple through the entire car market.

Siemens began in 1847 when inventor Werner von Siemens — then an army officer — built an improved pointer telegraph and founded a company with Johann Georg Halske in a Berlin backyard. Within two decades the company was laying telegraph lines from London to Calcutta, and by the early 20th century Siemens was one of the world's first global technology companies — a record of invention that spans the dynamo, the electric locomotive, and the first commercial computer in Germany. Today Siemens is a sprawling technology group with four main businesses: digital industries (factory automation, industrial software like the Simatic PLC and the Xcelerator platform), smart infrastructure (building automation, electrical distribution, charging infrastructure), mobility (trains, rail automation, signaling — its Velaro high-speed trains run in China, Spain, and Turkey), and Siemens Healthineers (medical imaging and diagnostics). Its industrial software and automation form the backbone of Germany's Industry 4.0 push. With about 320,000 employees and annual revenue near €78 billion, Siemens has spent the past decade reshaping itself — selling its energy business (now Siemens Energy), its lighting business, and its gas turbines, while buying industrial software makers like Mentor and Altair. The result is a company that still builds trains and factories, but increasingly sells the software and data platforms that run them — the 175-year-old inventor remade as a digital industrial giant.