Germany. TSMC. The giant starts building a new factory

To build the factory in Dresden, TSMC (an acronym for Taiwanese semiconductor company) formed a joint venture, ESMC (a European company), with three EU entities: German companies Robert Bosch and Infineon, and Dutch chipmaker NXP.

Government German offered ESMC 5 billion euros in support. However, it had to give its consent to provide such assistance European CommissionIn its application, Berlin argued that the project would meet the automotive industry's demand for semiconductors.

The EC approved the aid on Tuesday, and its president, Ursula von der Leyen, attended the groundbreaking ceremony. In her speech, she recalled that three years ago, the EU committed to doubling Europe's share of the global semiconductor market to 20 percent.

– Since then, new, state-of-the-art chip factories have started to appear all over Europe, for example in Crolles near Grenoble or in Catania in Sicily – she said.

According to von der Leyen, €115 billion of public and private support has been invested in the European semiconductor sector.

The Dresden plant is to reach full capacity by 2029, when it will produce 480,000 chips per year. The EC wrote in a statement that ESMC will operate as an open facility, meaning that other European entities, including small and medium-sized enterprises, will be able to place orders. The plant is also to be open to cooperation with EU universities.

The largest semiconductor factory in Europe will also be built in Germany. The German government is ready to contribute 10 billion euros to the construction of the American Intel plant in Magdeburg, worth 30 billion euros.

Intel also plans to open a factory near Wrocław.