The Federal Ministry for Economic Affairs and Climate Action of Germany (BMWK) has officially approved financing for TSMC’s wafer fab project in Dresden. The German government has signed an agreement with the four companies co-investing in European Semiconductor Manufacturing Company (ESMC) – TSMC, Bosch, Infineon, and NXP. On December 13, Germany’s Federal Minister for Economic Affairs Robert Habeck formally announced the launch of this joint investment project.