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Taiwan Semiconductor Manufacturing Company, along with three corporate allies, is to go ahead with a €10bn plant in Germany as the world’s largest contract chipmaker seeks to diversify globally in response to customer concerns over geopolitical tension.
The Taiwan-based group has teamed up with automotive supplier Bosch and chipmakers Infineon and NXP to build the factory in the eastern city of Dresden, a statement from the four companies said on Tuesday. TSMC’s board of directors approved an equity investment of up to €3.5bn in European Semiconductor Manufacturing Company GmbH.
The German government has offered TSMC half of the total — €5bn — in subsidies to support the project, according to a person familiar with the details. The economy ministry in Berlin said its support…