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German cartel office approves Bosch, Infineon, and NXP's stakes in TSMC's ESMC plant

EditorAmbhini Aishwarya
Published 11/07/2023, 05:58 AM
© Reuters.

In a move that bolsters Germany's semiconductor industry, the German cartel office, led by Andreas Mundt, has given the green light to Bosch, Infineon (OTC:IFNNY), and NXP (NASDAQ:NXPI) to each acquire a 10% stake in Taiwan Semiconductor Manufacturing Company's (TSMC) Dresden-based ESMC semiconductor plant. The approval comes amid geopolitical tensions and marks a significant milestone for TSMC as it is their first venture into Europe.

This strategic decision not only strengthens Germany's access to semiconductors but also supports the European Union's and Germany's goal of escalating Europe's semiconductor manufacturing capabilities. The move is seen as crucial for the global competitiveness of Germany's key industries, notably the car industry.

The Dresden-based ESMC semiconductor plant represents TSMC's third international operation, following its ventures in Taiwan and China. The investment by Bosch, Infineon, and NXP in the plant is anticipated to play an essential role in Berlin's ambition to amplify its domestic chip industry.

This development comes at a time when securing a reliable supply of semiconductors has become a strategic objective for many countries and industries around the world. The stakes in TSMC's European venture by these leading companies could potentially reshape the landscape of the global semiconductor industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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