Germany approves Bosch, NXP, and Infineon stakes in TSMC Dresden chip fab

The German cartel office cleared stakes by Bosch, Infineon, and NXP in Taiwan Semiconductor Manufacturing Co.’s upcoming fab in Dresden on Tuesday (Nov. 7).

According to Reuters, the cartel office said each company would acquire 10% of shares in European Semiconductor Manufacturing Co. (ESMC). The remaining 70% of ESMC will be owned by TSMC.

“The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry,” Reuters cited Andreas Mundt, president of the cartel office, as saying in a statement. Mundt added that both the EU and Germany were committed to moving more chip production to Europe and Germany.

Fab construction is expected to start in the second half of 2024, with commercial production expected to begin by the end of 2027. Once complete, TSMC will operate the facility, which will have a monthly production capacity of 40,000 300mm (12-inch) wafers. $Taiwan Semiconductor (TSM.US)$ $Nuveen Select Tax Free Income Portfolio (NXP.US)$