Tessalia plans $250m packaging plant in France

Patrice Caine, Chairman and CEO of Thales, said Tessalia represents a push for control over the company’s electronics value chain amid a competitive global semiconductor market.The investment could be more than €250 million by 2033.

Production  is expected to begin at the end of 2029.Tessalia aims to produce more than 50 million SiP modules annually by 2033 – half the amount originally planned when discussions began last year.

The company will operate as an OSAT provider.

Young Liu, Chairman of Foxconn, said, “This [joint venture] is not just a factory, it is a strategic platform for advanced manufacturing, semiconductor resilience, and future technologies in Europe.”

The joint venture will have access to Foxconn’s semiconductor technology through licensing arrangements.