China is allowing Dutch chipmaker Nexperia BV to export again, setting the stage for the Netherlands to suspend its powers over the Chinese-owned company.
Signaling a breakthrough in a conflict that threatened to disrupt automotive production around the world, the Dutch government is ready to shelve the measure that gave it the authority to change key corporate decisions, people familiar with the matter said.
That order, which was issued in September by Dutch Minister of Economic Affairs Vincent Karremans, sparked the dispute and could be rescinded as soon as next week if chip flows are confirmed.
Photo: Reuters
The chips have begun shipping again from Nexperia’s Chinese operations, said officials from several auto companies.
After receiving an export license from China this week, Aumovio SE — a parts manufacturer that supplies Volkswagen AG, Stellantis NV and BMW AG, — has shipped Nexperia semiconductors and components containing them, Aumovio CEO Philipp von Hirschheydt said in an interview.
Von Hirschheydt said he was told the Chinese Ministry of Commerce lifted the broader Nexperia export ban on Friday.
“It will take some time before all procedures and processes will get back to normal,” Von Hirschheydt said.
There’s still a chance for disruptions in the next four to six weeks, but “if everything I know today is correct, we are not going to be affected,” he said.
Shares of Wingtech Technology Co (聞泰科技), the Chinese parent company of Nexperia, surged in the final minutes of trading to close nearly 10 percent higher in Shanghai. European automakers and their suppliers gained on the news. Volkswagen shares climbed as much as 2.7 percent in Frankfurt, with BMW increasing as much as 2.5 percent. Shares of Mercedes-Benz Group AG and Fiat-maker Stellantis also rose.
Honda Motor Co has been told Nexperia’s chip shipments in China have resumed, and the carmaker aims to get disrupted production back on track during the week of Nov. 21, Honda executive vice president Noriya Kaihara said on Friday.
Robert Bosch GmbH is receiving Nexperia chips from China, people familiar with the situation said.
A spokesman for Bosch — one of the world’s largest parts suppliers — declined to comment. As of yesterday morning, there were still production disruptions at several Bosch plants that produce automotive electronics.
However, the situation remains murky. German parts supplier ZF Friedrichshafen AG is preparing for production disruptions including temporary furloughs as a precaution, a company spokesperson said.
“It is unclear to what extent and at what speed deliveries from China could resume,” the spokesperson said. “The situation remains very tense across the industry.”
In a sign of easing tensions, the Dutch government said in a statement late on Thursday that it expects Nexperia’s Chinese unit to resume chip supplies in the coming days, a noticeable softening of its previous stance.
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