US EditionEU approves German state aid for $11 billion TSMC chip plant
- The European Commission approved €5B in state aid for the German city Dresden's microchip plant by European Semiconductor Manufacturing Company, or ESMC.
- The plant aims to meet demands for automotive and industrial applications, operating as an open foundry.
- TSMC's facility will produce 480,000 silicon wafers annually and enhance Europe's chip supply chain resilience.
25 Articles
25 Articles
“This is more than a groundbreaking ceremony. It's a boost to Europe as a world power in innovation,” said Ursula von der Leyen, the president of the European Commission this Tuesday in Dresden, Germany, at the inauguration of the construction of a chip factory owned by TSMC, the Taiwanese semiconductor giant. Along with her, C. C. Wei, CEO of the company, and the German Chancellor, Olaf Scholz, who has committed millions of euros in aid to carr…
In order to lure the Taiwanese semiconductor company TSMC to Dresden, the German government is handing out lavish gifts. It is subsidizing the construction of a new factory with five billion euros, thereby covering almost half of the costs. Federal Chancellor Olaf Scholz (SPD) defended the high subsidies.
On the day of the groundbreaking ceremony for the new TSMC factory, the EU approved the billion-euro subsidy for the plant in Dresden and promised further aid for the industry. Chancellor Scholz defends the course.
Chips Act: The new factory should make Europe less dependent on the supply of Asian chips. Subsidies should entice companies to move to the EU…
EU Approves German State Aid for $11 Billion TSMC Chip Plant
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