TSMC to build new chip factory in Taiwan amid shortage

Taiwan Semiconductor Manufacturing (TSMC) said it will set up a chip factory in the island’s southern city of Kaohsiung as the world’s largest contract chip maker bids to boost production amid a global chip shortage.
TSMC for iPhonesTSMC, a major Apple supplier, said in a statement the new chip fabrication plant will produce advanced 7-nanometer chips as well as mature 28-nanometer semiconductors.

The construction of the factory will begin in 2022 and production is scheduled in 2024.

The company declined to say how much it was planning to spend for the new plant.

TSMC has pledged to spend $100 billion over the next three years to expand chip capacity and is building a $12 billion chip fabrication plant in the U.S. state of Arizona.