The Netherlands gives in to China, giving up control of Nexperia

The Netherlands has announced it will lift control of chipmaker Nexperia, a company crucial to the auto industry that it took control of in late September.

The Dutch government has decided to give in to China by announcing it will lift control of chipmaker Nexperia, a company crucial to the auto industry that the Netherlands took control of at the end of September.

"Given recent developments, I consider it appropriate to take a constructive step," said Dutch Economy Minister Vincent Karremans.

The Dutch government welcomes the measures taken by China to secure chip supplies in Europe.

Chinese company Nexperia has its European headquarters in Nijmegen, the Netherlands, and makes semiconductors that are particularly important to the auto industry.

In late September, the Dutch Minister of Economic Affairs intervened in the company's management due to serious concerns about its Chinese ownership.

He justified the move at the time by saying that the Chinese parent company, Wingtech, wanted to transfer technology and production to China. The move also affected the Nexperia factory in Hamburg, Germany.

Following this intervention, Beijing imposed export restrictions on Nexperia chips, affecting European automakers. China later announced an easing of the export ban, but called on the Netherlands to limit the controls it had implemented./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/ha-lan-nhuong-bo-trung-quoc-tu-bo-quyen-kiem-soat-experia-post1078039.vnp