Overview
- Wingtech filed formal appeals on Oct. 21 and Nov. 10 urging the Netherlands to revoke its Sept. 30 takeover of Nexperia, calling the move a disproportionate deprivation of property, according to documents seen by Reuters.
- The Dutch government suspended its intervention on Nov. 19 after talks with China but did not rescind the order, saying it sought to prevent Nexperia’s former chief from shifting European operations to China.
- China’s commerce ministry said the suspension fell short of its demand to fully end the intervention, while Wingtech and Beijing also asked the Dutch state to withdraw a separate mismanagement case.
- A Dutch court in October removed CEO Zhang Xuezheng and placed Wingtech’s voting rights under an administrator, with CFO Stefan Tilger named interim chief, deepening the governance dispute.
- Automakers reported strain from China’s Oct. 4 export curbs on Nexperia products, with Honda cutting production and others monitoring supplies, though partial export exemptions and limited shipments have begun to ease shortages.