EU approves biggest grant yet under Chips Act for TSMC Germany plant

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(Corrects text and instrument codes in paragraph 5 to show Robert Bosch of Germany is a stakeholder, not Bosch Ltd.of India)BRUSSELS :The European Commission said on Tuesday it had approved 5 billion euros ($5.

The Dresden facility is forecast to cost 10 billion euros in total to build.

The plant should improve Europe's resiliency against a future chip shortage of the type experienced during the COVID pandemic.

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Category: EconomyBusiness

Markets: SingaporeGermanyIndiaTaiwan

Topics: Commission Tsmc European Robert Semiconductor Billion Bosch Euros Germany Chips Plant

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 16:50:44 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 359 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22175392

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