The Dutch government has suspended its intervention in chipmaker Nexperia in a bid to ease tension with Beijing and prevent a potential global shutdown of car plants, reports the Financial Times. In a statement on Wednesday, Dutch economic affairs minister Vincent Karremans said the government was taking the step following “constructive” discussions with the Chinese government.
“We are positive about the measures already taken by the Chinese authorities to ensure the supply of chips to Europe and the rest of the world. We see this as a show of goodwill,” Karremans said. Nexperia is based in the Netherlands and has been majority owned by Chinese technology group Wingtech since 2019.
The Dutch government in October seized control of Nexperia and the Amsterdam court of appeal forced out the Chinese chief executive, sparking supply chain disruptions in car manufacturing and other industries.