EU approves German state aid for $11B TSMC-led chip plant

Ursula von der Leyen (left), C.C. Wei (center) and Olaf Scholz — European Commission President Ursula von der Leyen (left) is pictured with TSMC CEO C.C. Wei (center) and German Chancellor Olaf Scholz, at the ground-breaking ceremony for the plant in Dresden. (BLOOMBERG)

By:

Reuters

August 20, 2024 12:01 PM

BRUSSELS -- Taiwan's TSMC launched a major new microchip plant in Dresden, Germany, after the European Commission approved €5 billion ($5.5 billion) worth of state aid.

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