TSMC to Build Chip Factory in Germany -- Update
08 Agosto 2023 - 8:14AM
Dow Jones News
By Mauro Orru
The world's largest contract chip maker, Taiwan Semiconductor
Manufacturing Co., set out plans to build a factory in the German
city of Dresden with investments of more than 10 billion euros ($11
billion) as part of a joint venture with European companies. This
is the latest big-ticket investment in Europe as Brussels seeks to
become more self-sufficient in the production of
semiconductors.
TSMC said Tuesday that it had agreed to create a joint venture
with Infineon Technologies, Robert Bosch and NXP Semiconductors,
and develop a chip factory to meet demand in the fast-growing
automotive and industrial sectors. The total investments of more
than EUR10 billion include equity injections, debt borrowing, and
support from the European Union and German government. The final
investment decision will hinge on the level of public funding for
the project, TSMC said.
"Europe is a highly promising place for semiconductor
innovation, particularly in the automotive and industrial fields,"
said TSMC Chief Executive C.C. Wei.
TSMC will own 70% of the joint venture, dubbed European
Semiconductor Manufacturing Co., with the three European companies
retaining 10% stakes. The Taiwan-based group will operate the
plant, with construction expected to start in the second half of
2024, and production beginning by the end of 2027. The planned
facility is expected to create some 2,000 high-tech professional
jobs.
The announcement comes just two months after Intel reached an
agreement with Berlin to invest more than EUR30 billion in two
semiconductor facilities in the country. Intel is also planning a
new semiconductor assembly and testing facility in Poland for an
investment of up to $4.6 billion, building its presence in the
country, which already hosts its largest research-and-development
facility in Europe with nearly 4,000 workers.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 08, 2023 06:59 ET (10:59 GMT)
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