Taiwanese chipmaker TSMC on Tuesday committed 3.5 billion euros ($3.8 billion) to a factory in Germany, its first in Europe, taking advantage of huge state support for the $11 billion plant as the continent seeks to bring supply chains closer to home. TSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. The factory will cost around 10 billion euros in total. “There is going to be a real ecosystem for semiconductor manufacturing in Germany,” he said. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

---

Persons: TSMC, Olaf Scholz, Michael Kretschmer, ” Kretschmer, Germany’s, NXP, Robert Habeck, ”, “ It’s Organizations: European Union, Intel, Taiwan Semiconductor Manufacturing, Germany, Semiconductor Manufacturing Company, Germany’s Bosch, Infineon, Semiconductor, EU, Sony Locations: Germany, Europe, Taiwan, China, Asia, United States, Dresden, Saxony, ” Saxony, Netherlands, Ukraine, Arizona, Japan