According to a Reuters report, chipset manufacturer TSMC from Taiwan and Sony are considering jointly building a chipset factory in Japan.
The Japanese government is also reportedly ready to pay some of the 800 billion Yen, or ₹53,600 crore investment.
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The plant will produce chipsets for automobiles, cameras, and other products which have been hit by the global chip shortage. The new facility should be operational by 2024.
The report also states that Japanese auto parts maker Denso may help with setting up equipment at the site.