The Dutch government seized control of chipmaker Nexperia after Washington warned the company would not be removed from its export control list if its Chinese chief executive Zhang Xuezheng remained in charge, according to court filings.
The economy ministry this month removed Zhang — who was also the controlling shareholder of the chipmaker — and entered the escalating fight for technological dominance between Washington and Beijing.
Nexperia is an important supplier of specialised but low-margin chips for Europe’s auto industry. It was sold to a Chinese consortium in 2017 before being bought by Wingtech.
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