AMSTERDAM (Reuters) -A Dutch government delegation will travel to China “early next week” to seek a solution in the spat over chipmaker Nexperia, Dutch Economy Minister Vincent Karremans said on Thursday. “A senior official delegation from my ministry will travel to Beijing to continue our efforts to find a mutually agreeable solution,” Karremans said in […]
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Dutch delegation will travel to China next week for Nexperia talks, minister says
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AMSTERDAM (Reuters) -A Dutch government delegation will travel to China “early next week” to seek a solution in the spat over chipmaker Nexperia, Dutch Economy Minister Vincent Karremans said on Thursday.
“A senior official delegation from my ministry will travel to Beijing to continue our efforts to find a mutually agreeable solution,” Karremans said in a statement.
Karremans said he welcomed moves by China to loosen rules around the export of Nexperia’s chips but he is still monitoring the situation to “ascertain if and when trade from Nexperia’s facilities in China is fully resumed.”
A geopolitical and corporate fight broke out in late September over Chinese-owned, Netherlands-based Nexperia, which makes billions of chips for cars and other electronics.
After the Netherlands seized control of the Dutch company due to concerns about technology transfers to its Chinese parent Wingtech, China imposed export controls on the company’s China-made products, threatening automotive industry supply lines.
As of now, the Netherlands’ government is wielding a veto over strategic decisions at the company. Beijing has urged Dutch allies to put pressure on The Hague to make concessions.
Separately, a Dutch court suspended the company’s former CEO and Wingtech founder over alleged mismanagement.
(Reporting by Bart Meijer and Toby Sterling; Editing by Jan Harvey and Aidan Lewis)