TSMC has approved a plan to build a semiconductor factory in Germany, with a total investment of more than 10 billion euros.

CTOnews.com August 8 news, TSMC today issued a press release announcing that the company's board of directors approved the plan to invest in a semiconductor factory in Germany.

According to the press release, it is approved to invest in European Semiconductor Manufacturing Company, a German subsidiary mainly owned by TSMC, within an amount of not more than 3.5 billion euros (currently about 27.685 billion yuan) to provide professional integrated circuit manufacturing services.

According to Infineon's press release, TSMC will own 70 per cent of the joint venture, while Bosch, Infineon and NXP will each own 10 per cent, subject to regulatory approval and other conditions.

According to reports, the total investment of the project is expected to exceed 10 billion euros (CTOnews.com Note: currently about 79.1 billion yuan), including share financing, loans, etc., with strong support from the European Union and German governments.

In fact, TSMC has been in talks with the German state of Saxony about building a plant in Dresden since 2021. After board approval, TSMC plans to use the Dresden plant to sign a financing letter of intent with Berlin, which will eventually be decided by the European Commission.