Spat with Beijing threatened to hurt output of Europe’s big automakers
Nexperia (China) Ltd’s factory is pictured amidst a diplomatic standoff between China and Netherlands over the company in Guangdong province, China. Photo: Reuters
Bloomberg
The Dutch government suspended its powers over chipmaker Nexperia, handing back control to its Chinese owner and defusing a standoff with Beijing that had begun to hamper automotive production around the world.
The order that gave the Netherlands powers to block or revise decisions at Nijmegen-based Nexperia was dropped as “a show of goodwill”, economic affairs minister Vincent Karremans said yesterday, adding that discussions with Chinese authorities are continuing.
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