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Taiwan Semiconductor Manufacturing Co (NYSE:TSM) will break ground next month in Dresden, Germany, for its first European plant.
C.C. Wei, Taiwan Semiconductor Chairman and CEO, will lead a delegation from the company and host equipment and material suppliers, clients, and government officials on August 20, Nikkei Asia reports.
As the Dresden plant is formally known, European Semiconductor Manufacturing Corp (ESMC) aims to commence operations by late 2027.
Several top chipmaking clients, including Infineon, Robert Bosch, and NXP Semiconductors NV (NASDAQ:NXPI), are critical investors in Taiwan Semiconductor’s European joint venture, each holding a 10% stake. The project, costing over 10 billion euros ($10.8 billion), will address the bloc’s demand for localized automotive and industrial chips.
Taiwan Semiconductor has appointed Christian Koitzsch, an industry veteran, and former Bosch senior vice president and Dresden plant manager.
The ESMC site, located next to Bosch’s Dresden plant and near Infineon’s expanding 5 billion euro plant for power semiconductors, analog, and mixed-signal chips, will likely start production in 2026.
US Presidential candidate Donald Trump recently attacked Taiwan Semiconductor, flagging the lack of a formal defense treaty between the US and Taiwan, which followed a broader semiconductor meltdown.
Taiwan Semiconductor, a key Nvidia Corp (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL) supplier, lost 6% in the last five days.
Price Action: TSM shares traded lower by 1.03% at $158.36 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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