European Trade Commissioner Maros Sefcovic highlighted advancing discussions concerning the Dutch chipmaker Nexperia amidst ongoing dialogue involving the Netherlands and China. Sefcovic shared this update on X, calling it crucial for restoring the semiconductor supply chain.

The trade commissioner emphasized efforts towards achieving lasting stability without export control barriers and promoting a diversified EU ecosystem. Last month, the Dutch government stepped in to manage Nexperia, fearing technology transfer to the Chinese parent company, Wingtech.

This intervention led to diplomatic tensions between the EU and China, alongside threats to the chip supply chain critical to the European automotive sector.

(With inputs from agencies.)

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