Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 08 07T120820Z 1 LYNXMPEJ760DO RTROPTP 4 TAIWAN TSMC
2023 08 07T120820Z 1 LYNXMPEJ760DO RTROPTP 4 TAIWAN TSMC

TSMC to decide in favour of German factory on Tuesday – Handelsblatt


TSMC to decide in favour of German factory on Tuesday – Handelsblatt

BERLIN (Reuters) – Taiwanese semiconductor manufacturer TSMC’s board of directors will decide in favour of building a factory in the German city of Dresden, the Handelsblatt daily reported on Monday, citing government sources.

The German government will support the construction of the factory with 5 billion euros ($5.49 billion), according to the sources.

The German economy ministry declined to comment on the report.

TSMC, the world’s largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or “fab”, in Dresden.

It will operate the factory in a joint venture with partners Bosch, Infineon and NXP, the sources told Handelsblatt.

After the board gives the green light, TSMC, which plans to use the Dresden plant primarily to produce chips for the automotive industry, could sign a letter of intent with Berlin on the funding, with the final decision to be made by the European Commission, according to the report.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

TSMC is one of several chipmakers, including Intel and Wolfspeed, seeking to draw on government funding to build factories in Europe.

Brussels and EU member states are pushing for home-grown production by offering billions in state subsidies to cut dependency on Asian suppliers and ease a global chip shortage which created havoc for carmakers.

($1 = 0.9108 euros)

 

(Writing by Miranda Murray, Editing by Friederike Heine)

 

Recent Post: