China has permitted Nexperia, a semiconductor company based in the Netherlands and owned by Chinese firm Wingtech, to export certain chips. This decision was made to address concerns among European carmakers about potential production delays, as reported by the BBC.
In October, the Dutch government temporarily took over Nexperia to safeguard Europe’s chip supply and address governance concerns. This move led China to block exports of Nexperia’s finished chips. Now, China has agreed to simplify export procedures and remove licensing requirements for Nexperia products intended for civilian use, according to EU Trade Commissioner Maroš Šefčovič. He...