Netherlands' seizure of China chipmaker Nexperia sparks concerns among global auto companies

Submitted ⁨⁨1⁩ ⁨week⁩ ago⁩ by ⁨schizoidman@lemmy.zip⁩ to ⁨globalnews@lemmy.zip⁩

https://www.channelnewsasia.com/world/nexperia-automakers-chips-supply-china-netherlands-5449466

cross-posted from: lemmy.zip/post/52517681

Nexperia, Chinese-owned but based in the Netherlands, makes billions of simple but ubiquitous chips that auto suppliers use in parts ranging from brakes and electric windows to lights and entertainment systems.

Nissan Motor will cut production of its top-selling Rogue SUV in Japan by about 900 vehicles from next week due to a short supply of chips from Nexperia, according to a person familiar with the matter.

Germany, home to major automakers such as Audi, BMW and Mercedes-Benz, said it was lobbying China in the interests of German customers of Nexperia through all available channels.

European carmakers and suppliers have rushed to apply to China for Nexperia chip export exemptions, which need to be paid for in Chinese currency, or have sought alternative suppliers.

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BrikoX@lemmy.zip ⁨1⁩ ⁨week⁩ ago
The whole trade situation taken over the news and missed why the company was nationalized in the first place. It was mismanaged and used a personal fund by the CEO. It was under investigation long before the trade war.

The move followed an emergency hearing by the Dutch Enterprise Chamber on October 7, which concluded that there may be “valid reasons to doubt sound management at Nexperia under the leadership of former CEO Zhang Xuezheng”, a statement from the company said.

New court records published by the paper allegedly show that Chinese executive and founder of Nexperia’s parent company, Wingtech, Zhang Xuezheng, forced Nexperia to place an order with his privately owned chip factory, WingSkySemi in Shanghai, worth over $200 million. That, despite it actually requiring less than $100 million worth for its own production needs.

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- woodenghost@hexbear.net ⁨1⁩ ⁨week⁩ ago
  Sure and when was the last time a company in Europe was nationalized for similar reasons? That’s right, it never happens, except to targets of the empire. Mismanagement? Corruption? Tax fraud. They are ubiquitous. European politicians see it as their foremost duty to protect the guilty CEOs, stakeholders and companies.
  
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  - BrikoX@lemmy.zip ⁨1⁩ ⁨week⁩ ago
    I’m not disputing that company being tied China had an impact in the assessment, but presenting it as the only reason is disingenuous and that seems to be the narrative the media.
    
    To give a few examples: Talvivaara Sotkamo Ltd in Finland, Parex Bank in Latvia, Snoras in Lithuania.
    
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