WINGTECH(SH:600745) Guo Ji Jin Rong Bao·2025-10-29 08:49Core Viewpoint - The global automotive industry is facing a renewed production crisis due to a semiconductor shortage, exacerbated by the Dutch government's takeover of Nexperia, a chip manufacturer, citing national security concerns, which has led to export restrictions from China [1][2]. Group 1: Impact on Automotive Manufacturers - Honda's assembly plant in Ontario, Canada, has announced a production cut of 50% starting October 27, with plans to halt production for a week beginning October 30 [1]. - Multiple Honda "mass production" plants in North America have begun implementing emergency measures, including temporary shutdowns, in response to the semiconductor supply chain issues [2]. - Volvo's CEO highlighted that while the affected components are not strategic, their abundance means that shortages could halt production [3]. Group 2: Semiconductor Supply Chain Issues - The Dutch government invoked a law not used since 1952 to prevent Nexperia from making any adjustments to its assets or operations for one year, following China's export control measures on specific components [2]. - Nexperia generated approximately $2 billion in revenue last year, with around 60% coming from the automotive sector, indicating its significant role in the supply chain [3]. - Barclays warned that some automotive suppliers may run out of inventory in the coming days, with the chip shortage potentially impacting production as early as this week [3]. Group 3: Broader Industry Implications - The German Mechanical Engineering Industry Association (VDMA) cautioned that the impact of Nexperia's export suspension could extend beyond the automotive sector to include power generation, engineering machinery, and agricultural machinery [3]. - U.S. automakers like Ford and General Motors are in discussions with the Trump administration to find solutions before production is significantly affected [3].