- The German government will provide €5 billion
- The company will start production of chips for the automotive sector
The Taiwan Semiconductor Manufacturing Company (TSMC) has recently unveiled its plans to build a €10 billion (US$11 billion) plant in Germany.
Firstly, the company will start production of chips for the automotive sector by the end of 2027. The firm will work in conjunction with German companies Robert Bosch and Infineon Technologies and NXP Semiconductors of the Netherlands.
The government is planning to get more investment but Brussels haven’t prepared yet. According to some sources, it would be quite impossible to get all 27 EU member states to support an official trade or investment pact with Taiwan.
The German government will provide €5 billion in subsidies for the plant. It comes after Intel announced plans for a €30 billion chip factory in Magdeburg.
