Singapore's Vision Power Semiconductor Corporation plans to acquire $150 million worth of technology licenses from Taiwan Semiconductor Manufacturing Company (TSMC) to enhance its 300mm wafer fabrication plant in Singapore. This move follows Vanguard International Semiconductor (VIS) and NXP Semiconductors' joint venture announcement to establish Vision Power Semiconductor Manufacturing Company (VSMC). 

The new entity aims to build a state-of-the-art facility focusing on automotive, industrial, consumer, and mobile sectors with technologies ranging from 130nm to 40nm. VSMC will secure seven crucial TSMC licenses to meet industry demands. Construction of the wafer fab's initial phase begins in late 2024, targeting production by 2027, with a projected cost of USD 7.8 billion. Operating independently, VSMC aims for a monthly production capacity of 55,000 300mm wafers by 2029.