Germany, one of the largest automobile manufacturing countries in the world, has reached out to Taiwan to help with the ongoing semiconductor shortage.
According to media reports, Germany’s Economy Minister Peter Altmaier has contacted the Taiwanese Minister of Economy, Wang Mei-hua, to step in and urge Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest chipmaker, to increase its production capacity to meet Germany’s auto demand for the product in the short- and medium-term. TMSC said that it is already working closely with its automotive sector customers to resolve the chip shortage.
However, Germany now plans to subsidize local production of semiconductors to avoid similar supply chain issues in the future by reducing dependence on imported parts.