The global chip shortage is being fought by the construction of a massive manufacturing facility in Taylor, Texas by the Korean electronics giant. The $17 billion factory will be the largest investment by the company in the US.
The factory will be operational in the second half of 2024, with the construction starting in the first half of the next decade. The site will cover more than five million square meters. Taylor was chosen due to its proximity to the Austin manufacturing site, as well as other factors, including the local government support and community development opportunities. The new facility will create 2,000 jobs once it is up and running.
The new factory will make products that are used in mobile, 5G, high- performance computing, and artificial intelligence.
Kinam Kim, vice chairman and CEO, said that with greater manufacturing capacity, they will be able to better serve the needs of their customers and contribute to the stability of the global supply chain.
TSMC took over the production of chips for Apple's iPhone a few years back, and it's now been overtaken by South Korea's Samsung, which is one of the largest chip makers in the world. The new facility in Texas should increase the competitiveness of the company in the market. It might help alleviate the chip shortage if it continues for a long time.
