Skip to main content

Market Overview

Apple Supplier TSMC Explores Making First EU Chip Plant In Germany

Share:
Apple Supplier TSMC Explores Making First EU Chip Plant In Germany

Apple Inc (NASDAQ: AAPL) chip supplier Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) said on Monday it is in early-stage talks to build the company’s first semiconductor factory in Europe, Reuters reports.

What Happened: The Taiwan-based chip supplier said it was too early to say whether it will build factories in Germany and that talks were in the early stages.

Besides TSMC, the European Commission has held talks with key rival Intel Corp (NASDAQ: INTC), as Europe looks to boost semiconductor production and insure itself from the global semiconductor shortages.

"We are currently doing reviews on Germany seriously, but it's still in very early stages," TSMC Chairman Mark Liu said at the company’s annual shareholder meeting, as per Reuters.

See Also: Apple Supplier TSMC Plans To Build Advanced Chip Packaging Plant In US: Report

Why It Matters: Taiwan-based TSMC is the world’s largest contract chipmaker. Amid an ongoing global semiconductor shortage, TSMC has become key to finding quick a resolution and ensure that the pandemic-induced chip shortage — that has forced automakers to cut production and hurt manufacturers of smartphones, laptops and even appliances — does not repeat.

TSMC had in July indicated it could soon have its first chip packaging unit outside of Taiwan in the United States and Japan amid concern over the concentration of chipmaking capability in its home country, which caters to most of the world’s chip needs and is geographically close to political rival China.

Price Action: TSMC shares closed 0.2% higher at $116.79 on Friday.

For news coverage in French, Italian, or Spanish, check out Benzinga FranceBenzinga Italia, or Benzinga España

Photo: Courtesy of TSMC

 

Related Articles (TSM)

View Comments and Join the Discussion!

Posted-In: chipmakers European Union Germany semiconductorsNews Events Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com