On Tuesday,???? ??? TSMC announced its intention to collaborate on an investment in the European Semiconductor Manufacturing Company (ESMC) located in Dresden, Germany, with a focus on advanced semiconductor manufacturing services. TSMC will join Bosch, Infineon, and NXP, and is slated to allocate 3.5 billion euros towards the establishment of a plant in Germany, marking its first European venture. The facility is projected to have a monthly production capacity of 40,000 12-inch wafers, generating approximately 2,000 local job opportunities. TSMC will hold a 70% stake in the joint venture, while Bosch, Infineon, and NXP will each retain a 10% equity share. Construction is due to begin in the latter half of 2024 and the facility is slated to start production by the close of 2027. In a separate development, the European Union approved the European Chips Act in July, a 43 billion euro subsidy initiative intended to double chip production capacity in the region by 2030. [Taiwan Semiconductor Manufacturing Company]