The Dutch government said it’s relinquishing control of Chinese-owned chipmaker Nexperia, easing a standoff between China and the Netherlands that threatened supplies of semiconductors vital for global auto manufacturing.
Economics Affairs Minister Vincent Karremans said Wednesday that he was suspending an earlier order to take control of Nexperia under a rarely invoked law.
The Dutch government cited national security concerns and serious governance shortcomings when it took effective control of Nexperia, which is headquartered in the city of Nijmegen but owned by China’s Wingtech Technology.
Officials said they were trying to prevent the loss of crucial tech know-how that could threaten Europe’s economic security.
Nexperia chips are widely used by carmakers in North America, Japan and South Korea. Automakers warned in recent weeks that they were running low on the chips, and Honda was forced to shut down a factory in Mexico producing its popular HR-V crossover for North American​The Dutch government said it’s relinquishing control of Chinese-owned chipmaker Nexperia, easing a standoff between China and the Netherlands that threatened supplies of semiconductors vital for global auto manufacturing.
Economics Affairs Minister Vincent Karremans said Wednesday that he was suspending an earlier order to take control of Nexperia under a rarely invoked law.
The Dutch government cited national security concerns and serious governance shortcomings when it took effective control of Nexperia, which is headquartered in the city of Nijmegen but owned by China’s Wingtech Technology.
Officials said they were trying to prevent the loss of crucial tech know-how that could threaten Europe’s economic security.
Nexperia chips are widely used by carmakers in North America, Japan and South Korea. Automakers warned in recent weeks that they were running low on the chips, and Honda was forced to shut down a factory in Mexico producing its popular HR-V crossover for North American ​Latest News [ SOBAN NEWS: International and National ]
