Dutch Gov. Suspends Powers Over Nexperia In Bid To Ease Global Chip Strains

Benzinga

The Dutch government suspended its supervisory powers over Nexperia and returned control to Chinese owner Wingtech, easing a dispute that had disrupted global automotive chip supplies. The suspension is meant as a goodwill gesture as negotiations with China continue. Wingtech shares rose as much as 5.2% in Shanghai trading.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02The Dutch government suspended its supervisory powers over Nexperia and returned control to

00:06Chinese owner Wingtech, easing a dispute that had strained global automotive chip supplies,

00:11according to Bloomberg. Economic Affairs Minister Vincent Kremens said the Netherlands dropped

00:16its authority over Nexperia as a show of goodwill while continuing talks with Chinese officials.

00:21China said the suspension is a positive first step, but war in the unrepealed order remains

00:25the root cause of the chip disruption. Wingtech technology shares rose up to 5.2% in Thursday

00:30morning trading in Shanghai. For all things money, visit Benzinga.com.

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