The European Commission has approved a 5 billion euro (about $5.58 billion) German state aid package for TSMC’s first chip plant in Europe, European Commission President Ursula von der Leyen announced at the company’s groundbreaking ceremony in Dresden, Germany, on Aug. 20.
It’s part of the European Union’s drive to wean the bloc off semiconductors made in Asia, including by Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), the world’s biggest contract chip maker.
