Taiwanese semiconductor company spends 3.5 billion euros on factory in Germany

TSMC said it will invest up to 3.499 billion euros in a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which TSMC will own 70%, Reuters reported. Germany's Bosch and Infineon and the Netherlands' NXP will each own 10% of the plant. The facility is expected to produce up to 40,000 wafers a month for automotive, industrial and home appliances when it becomes operational in 2027.

It will be TSMC's first semiconductor plant in Europe. The plant is central to Germany's ambitions to boost its domestic semiconductor industry as its auto industry will need to remain globally competitive, according to Reuters.

The logo of Taiwan Semiconductor Manufacturing Company (TSMC) at the Hsinchu Science Park in Hsinchu City, Taiwan

German officials say the country will contribute up to 5 billion euros to the plant, in Dresden, the capital of the eastern state of Saxony.

"There will be a real ecosystem for semiconductor production in Germany. It will generate orders for the entire sector: machine builders, optical manufacturers...", German Economy Minister Robert Habeck emphasized.

Saxony will spend on training and infrastructure to support the investment, the biggest in the state's history, even as Germany faces a severe labour shortage, a regional official said.

The European Union (EU) has approved the European Chip Act, a €43 billion subsidy plan to double chipmaking capacity by 2030, in a bid to catch up with Asia and the US after shortages and high prices during the Covid-19 pandemic hit the continent’s carmakers and machine builders. The EU seeks to double its global market share of semiconductors to 20% by 2030.

TSMC is also investing $40 billion in a new factory in the western US state of Arizona, supporting Washington's plans to produce more chips domestically, and is building a factory in Japan in a joint venture with Sony.

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