Nokia plans $391 million investment in Germany

A view shows Nokia headquarters in Espoo, Finland, October 19, 2023. JUSSI NUKARI/Lehtikuva/via REUTERS/File Photo

(Reuters) - Finland's Nokia said on Wednesday it plans a 360 million euros ($391 million) investment in software, hardware and chip design at its Ulm and Nuremberg sites in Germany.

The four-year project is being funded by the company, the German Federal Ministry of Economics and Climate Protection and two German states, Nokia said in a statement.

($1 = 0.9207 euros)

(Reporting by Greta Rosen Fondahn; editing by Terje Solsvik)