The European Commission approved €5 billion worth of state aid by the German federal government aimed at setting up a new semiconductor manufacturing facility.
The initiative involves building a microchip manufacturing plant in Dresden, which should help Europe secure its supply of semiconductors.
The project will be put forward by European Semiconductor Manufacturing Company (‘ESMC’), a joint venture between Taiwan Semiconductor Manufacturing Company (‘TSMC’), Bosch, Infineon, and NXP.
https://ec.europa.eu/commission/presscorner/detail/en/IP_24_4287