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BREAKING
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.
Qatari PM: We must not surrender to the arrogance of extremists and pursue our quest for a 'two-state solution'
Qatari PM: The only path to peace begins through negotiations and a ceasefire
Qatari PM: We demand that the Security Council assume its historical responsibility, as silence in the face of the law of the jungle undermines international peace and destabilizes the UN system
Qatari PM: The extremists who rule "Israel" do not care about the lives of the "hostages"; otherwise, how can the timing and location of the attack be explained?
Qatari PM: 'Israel's' attack on Hamas leaders in Doha is a violation of Qatar's sovereignty
Qatari PM: The ongoing [Israeli] violations only prove one thing: the Israeli officials' drunkenness on power amid impunity
Yemeni Ministry of Health: The death toll from the Israeli aggression on Sanaa and Al-Jawf Governorate has risen to 46, in addition to 165 injuries, including a large number of women and children, according to a non-final toll
Representative of Russia to the Security Council: What happened is not a coincidence, but rather a logical consequence of the complete impunity 'Israel' enjoys
Representative of Russia to the Security Council: What prevents 'Israel' from attacking any capital city in the world after bombing Doha?

Taiwanese TSMC accepts $3.8 bln Germany microchips factory plan

  • By Al Mayadeen English
  • Source: Reuters
  • 8 Aug 2023 16:14
2 Min Read

The board approves a $3.8 billion investment for the construction of its first European factory, in Germany.

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  • The photo showing the icon of TSMC during the Taiwan Innotech Expo at the World Trade Center in Taipei, Taiwan, on October 14, 2022. (AP)
    The photo showing the icon of TSMC during the Taiwan Innotech Expo at the World Trade Center in Taipei, Taiwan, on October 14, 2022. (AP)

Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) said on Tuesday that its board had approved a 3.5-billion euro ($3.8 billion) investment for the construction of its first European factory, in Germany.

TSMC has been since 2021 in discussions with the German state of Saxony about constructing a manufacturing facility, or "fab," near Dresden.

The facility, which will be TSMC's third outside of the traditional production hotspots of Taiwan and China, is essential to Berlin's goal of developing the local semiconductor industry.

Read: Taiwan chipmaker TSMC shares dip by 3.3% after revenues dropped 10%

The corporation approved the investment of up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Corporation (ESMC) GmbH, of which it would hold 70%, to supply foundry services, according to a brief statement released following a board meeting.

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The German semiconductor companies Bosch and Infineon and the Dutch company NXP will each own 10% of the facility, which can produce 40,000 300-millimeter wafers per month. It's scheduled to debut in 2027.

In an effort to catch up with Asia and the United States, the European Union has passed the EU Chips Act, a 43 billion euro subsidy plan to multiply by two its chipmaking capacity by 2030.

TSMC is one of many chipmakers attempting to obtain government support to construct plants in Europe, including Intel (INTC.O) and Wolfspeed (WOLF.N).

By paying billions in state subsidies, Brussels and EU member states are encouraging domestic manufacture in an effort to reduce reliance on Asian suppliers and alleviate a global chip shortage that has caused major problems for the auto industry.

By 2030, the bloc wants to have a 20% market share worldwide.

To support Washington's aspirations for expanding domestic chip production, TSMC is also investing $40 billion in a new plant in the western US state of Arizona. The company currently runs a plant in Japan under a joint venture with Sony.

As part of the overall $40 billion investment, TSMC said in a statement following the board meeting that it had also approved a capital infusion of no more than $4.5 billion for the Arizona factory.

  • Taiwan
  • chipmaking
  • Germany
  • TSMC
  • China

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