TSMC Building
Expansion into Europe
AMSTERDAM (APRNEWS) - Taiwanese chipmaker TSMC announced on Tuesday that it plans to commence construction of its first European plant in the fourth quarter of 2024.
During a conference held in the Netherlands, TSMC's European head, Paul de Bot, stated that construction of the European Semiconductor Manufacturing Co (ESMC) in the German city of Dresden will begin this year, with production slated for 2027.
Strategic Partnerships and Investment
TSMC unveiled in August its intention to build an $11 billion factory in Germany, with Infineon, NXP, and Robert Bosch each holding a 10% stake in the project.
Kevin Zhang, overseeing TSMC's international operations, informed the press that they anticipate receiving a grant for the plant under the European Chip Act, although it hasn't been confirmed yet.
"We have strong backing from the European government - the European Union - and the German government, so we are very confident that we should be able to get good support there," he noted. "It's a very exciting time for the European semiconductor ecosystem... (with TSMC's arrival) directly in the backyard of major automotive clients."
Future Prospects
Zhang didn't rule out expanding TSMC's investments in Europe later on to include facilities capable of manufacturing more advanced chips, although this might take a few years.
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