Summary by Futu AI
On August 20, 2024, a groundbreaking ceremony was held in Dresden, Germany, for the first semiconductor fabrication plant of the European Semiconductor Manufacturing Company (ESMC), a joint venture between Taiwan Semiconductor Manufacturing Company Ltd. (TSMC), Robert Bosch GmbH, Infineon Technologies AG, and NXP Semiconductors N.V. The event was attended by high-profile European leaders, including European Commission President Ursula von der Leyen and German Chancellor Olaf Scholz. The EU Commission has approved a €5 billion German measure to support the construction and operation of the fab under EU State aid rules. The Dresden facility, which is expected to start construction later in the year, will focus on meeting the semiconductor needs of the European automotive and industrial sectors. It will have a...Show More