Groundbreaking ceremony for chip factory in Dresden

Dresden (dpa/sn) – EU Commission President Ursula von der Leyen and German Chancellor Olaf Scholz are guests at the symbolic groundbreaking ceremony for a new chip factory in Dresden. The factory’s construction also marks the EU’s realigned policy on semiconductor production. The Union wishes to become more independent of global supply chains – the factory is set to almost double the current ten-percent European share of the world chip market. It will manufacture chips from 2027, chiefly for automotive production. The investment of a good ten billion euros is a joint venture involving the Taiwanese industry giant TSMC and the firms Bosch, Infineon and NXP Semiconductor, which are already based in Dresden. With a workforce of around 2,000, the factory will be named the European Semiconductor Manufacturing Company (ESMC).