TSMC Breaks Ground on €10 Billion German Plant in Chip War Salvo
- Taiwanese firm begins work on its first European chip plant
- German subsidies will cover about half of the fab’s costs
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Taiwan Semiconductor Manufacturing Co. broke ground in eastern Germany on its first European plant as the continent seeks to safeguard its chip supplies amid growing US-China tensions.
“We are dependent on semiconductors for our sustainable future technologies, but we must not be dependent on other regions of the world for the supply of semiconductors,” said German Chancellor Olaf Scholz, who attended a ceremony on Tuesday to mark the start of construction of the €10 billion ($11 billion) fab in the city of Dresden. About half of the funding will be covered by state subsidies.