A method of manufacturing semiconductor modules includes providing a metal composite substrate including a metal foil attached to a metal layer, the metal foil being thinner than and comprising a different material than the metal layer, attaching a first surface of a plurality of semiconductor dies to the metal foil prior to structuring the metal foil, and encasing the semiconductor dies attached to the metal foil in an electrically insulating material. The metal layer and the metal foil are structured after the semiconductor dies are encased with the electrically insulating material so that surface regions of the electrically insulating material are devoid of the metal foil and the metal layer. The electrically insulating material is divided along the surface regions devoid of the metal foil and the metal layer to form individual modules.