China exempts Nexperia chips from export controls, easing fears for European car production

China has lifted export controls on Nexperia chips, easing fears of disruption to European car production. The Chinese commerce ministry stated exemptions are for civilian use, following the Dutch government's October takeover of Nexperia, a Netherlands-based company owned by China's Wingtech. This move comes after China had blocked exports in response to the Dutch action, with automakers previously warning of imminent supply shortages and potential plant shutdowns.