- Laying the groundwork for a novel chip manufacturing facility in Dresden.
At 11:00 AM today, construction commences on a fresh chip manufacturing facility in Dresden. This multibillion-euro endeavor, valued at €10 billion, is a collaborative project between titan TSMC from Taiwan and local Dresden companies like Bosch, Infineon, and NXP Semiconductor. TSMC retains a 70% stake in the company, with the other partners dividing the remaining 30% equally. The plant will be known as European Semiconductor Manufacturing Company (ESMC), with operations set to commence in 2027, primarily focusing on automotive industry chips. The first European TSMC factory is expected to generate around 2,000 employment opportunities.
Witnessing this groundbreaking event are German Chancellor Olaf Scholz (SPD) and European Commission President Ursula von der Leyen. The ESMC investment aims to propel the EU's semiconductor production realignment. The target is to escalate the EU's grip on the global chip market from the current 10% to a staggering 20%.
The following statement outlines additional details about the ESMC project: "The following shall be added to the company's charter: a commitment to invest an additional €2 billion in research and development over the next decade."
Upon successful execution of the project, it is expected that "The following benefits shall be derived from the EU's increased semiconductor production: a reduction in reliance on foreign sources and a boost to the European economy."
