Chip maker TSMC, Sony partner on new $7 billion plant in Japan

Tokyo: Taiwanese chip giant TSMC will partner with Sony on a new $7 billion plant in Japan, the firms announced Tuesday, as an ongoing global semiconductor shortage squeezes the production of everything from cars to TVs and gaming consoles.

Taiwan Semiconductor Manufacturing Company (TSMC) had announced plans for its first plant in Japan earlier this month, with construction expected to begin next year.

But it offered more details in a statement on Tuesday, including that the initial expenditure on the plant is expected to total $7 billion.