Agreement will contribute to resumption of chip deliveries for the automotive industry

The US government plans to publicly announce that the Chinese operations of the company Nexperia will resume chip deliveries abroad. Nexperia is one of the most important suppliers to the automotive group Stellantis.

The easing of export restrictions comes as a relief to the automotive industry, which was facing a halt in production due to a shortage of key electronic components.

About 70 percent of the chips manufactured by Nexperia are packaged in China and shipped from there to distributors around the world.

According to agencies, the White House is expected to release detailed information shortly about the peace agreement between the US and China, which is also expected to lead to the resumption of chip deliveries to the global market. The agreement was concluded at the summit meeting between Presidents Trump and Xi Jinping in South Korea.

Honda has already partially suspended production due to the chip shortage. Japanese manufacturer Nissan announced that its semiconductor stocks will only last until the first week of November. Companies in the industry are monitoring the situation and preparing for further developments.

(reuters, sie)