🚀 ProPicks AI Hits +34.9% Return!Read Now

Bosch, Infineon, NXP, TSMC to establish JV for German wafer fab

Published 08/08/2023, 11:21
Updated 08/08/2023, 11:35
© Reuters. FILE PHOTO: The logo of Bosch is seen at an office building in Kyiv, Ukraine July 6, 2020.  REUTERS/Valentyn Ogirenko/File Photo
NXPI
-

BERLIN (Reuters) - German technology group Robert Bosch said on Tuesday that it will establish a joint venture with TSMC, Infineon and NXP (NASDAQ:NXPI) with the aim of building a wafer fab in Dresden, Germany, by the second half of next year.

© Reuters. FILE PHOTO: The logo of Bosch is seen at an office building in Kyiv, Ukraine July 6, 2020.  REUTERS/Valentyn Ogirenko/File Photo

The joint venture will be 70% owned by TSMC, with Bosch, Infineon and NXP each holding a 10% equity stake, according to a statement, and total investments are expected to exceed 10 billion euros ($10.97 billion) via equity injection, debt borrowing, and strong support from the European Union and German government.

($1 = 0.9120 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.