Taiwan Semiconductor Manufacturing Co (NYSE:TSM) announced it will begin constructing its first European semiconductor facility in Dresden, Germany, in the fourth quarter of 2024.
At a conference in the Netherlands, TSMC’s European chief, Paul de Bot, confirmed that the $11 billion factory, European Semiconductor Manufacturing Co (ESMC), will start production in 2027. The stock is trading higher on Tuesday.
Significant stakeholders in the project include Infineon, NXP Semiconductors N.V. (NASDAQ:NXPI), and Robert Bosch, each holding a 10% share. Kevin Zhang, who manages TSMC’s international operations, expressed confidence in receiving subsidies under ...