TAIPEI -- Taiwan Semiconductor Manufacturing Co. on Tuesday revealed a deal to build its first chip plant in Europe in Dresden, Germany, as the world's largest contract chipmaker seeks to capitalize on the automotive sector's growing demand for semiconductors.
TSMC said it would spend 3.49 billion euros ($3.88 billion ) to become a 70% owner of European Semiconductor Manufacturing Co. (ESMC), a joint venture with Infineon Technologies and Robert Bosch of Germany and NXP Semiconductors of the Netherlands. Each of its partners would own a 10% equity stake.
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