TSMC-Backed Vanguard Plans $7.8 Billion JV to Build Chip Plant

Vanguard International Semiconductor and NXP Semiconductors plan to invest $7.8 billion in a chip manufacturing plant in Singapore. The Taiwan-based Vanguard, partly owned by Taiwan Semiconductor Manufacturing Co., and Dutch chip maker NXP will establish a joint venture to build a 300mm semiconductor wafer manufacturing facility in Singapore. Construction is scheduled to begin in the second half of 2024. The move aims to meet the increasing demand for chips in the region.