Today, the European Commission approved €5bn in state aid for TSMC's chip plant in Dresden, aiming to enhance the EU’s semiconductor production capabilities.
The European Semiconductor Manufacturing Company will mass-develop groundbreaking technology, with the plant expected to reach full capacity by 2029 and produce 480,000 silicon wafers annually.
As an 'open foundry,' ESMC will allow diverse customers access to power-efficient chips, supporting smaller firms and startups while maintaining competitive integrity.
With this approval, the EU strives to achieve a 20% share of global semiconductor production by 2030, striving to attract major chip manufacturers.
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