Taiwanese chipmaker TSMC has approved a $3.8 billion plan to construct a factory in Dresden, Germany, Deutsche Welle reports.
This initiative is part of Germany’s strategy to attract semiconductor manufacturers and bolster its chip production capabilities.
The chipmaker will partner with Bosch, Infineon, and NXP, with TSMC holding 70% and the others 10% each in the joint venture.
The factory, set to be operational by 2027, aims to produce 40,000 300-millimeter wafers monthly.
Germany’s government is contributing around €5 billion from its climate and transformation fund to support the construction.
