Taiwan’s TSMC is planning to further expand operations in the bloc, having already started construction on a €10bn chip plant in Dresden, Germany — its first in Europe. The German government will provide half of the funding with €5bn in state aid, under the EU’s Chips Act. TSMC’s upcoming plant is expected to further strengthen the EU’s position in automotive and industrial chip production, with an annual output of 480,000 silicon wafers once fully operational in 2029.