UPDATE 1-Germany approves stakes by Bosch, Infineon and NXP in TSMC chip plant

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Nov 7 (Reuters) - The German cartel office has approved stakes by Bosch, Infineon and NXP in TSMC's new semiconductor plant in the German city of Dresden, the regulator said in a statement on Tuesday.

The companies would each acquire 10% of shares in the European Semiconductor Manufacturing Company (ESMC), founded by TSMC, it said.

"The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry," Andreas Mundt, president of the cartel office, said in a statement.

He added that both the European Union and Germany were committed to locating more semiconductor production in Europe and Germany.

The

plant

, which will be TSMC's first in Europe and third outside of traditional manufacturing bases Taiwan and China, is key to Berlin's ambition to promote the domestic chip industry its car industry will need to remain globally competitive.

(Reporting by Linda Pasquini, Editing by Rachel More and Matthias Williams)