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TSMC to invest $2.8bn in China to ramp up auto chip production

Taiwan chip giant will build new facilities in Nanjing amid severe shortage

TSMC plans to invest in building a factory to produce 28-nanometer chips in Nanjing. (Photo courtesy of the company)

TAIPEI -- Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, will invest $2.8 billion in China to ramp up the production of semiconductors used in automobiles.

TSMC will install new production lines at an existing plant in Nanjing, which are slated to begin mass-production in 2023 to meet the growing demand for 28-nanometer automotive chips.

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