Chinese Billionaire Who Controls Nexperia Hit for Stealing UK’s Chip Industry

Zhang Xuezheng has often found himself in trouble both in China and abroad.

Zhang has been removed as chief executive by a Dutch court and has not been publicly seen or heard from since. (Photo: Wingtech Technologies) 

The 50-year-old Chinese billionaire and his technology giant Wingtech have repeatedly clashed with local authorities, resulting in millions in fines and even a 17-month jail sentence, James Titcomb reported for The Telegraph.

Zhang — often known by his nickname Wing — is now accused of orchestrating a heist of British and European technology, claims that have triggered an unprecedented seizure of his company’s assets and now threaten to bring the car industry to a halt.

Last month, the Dutch government invoked a Cold War-era law that had never been used before to take control of Nexperia, the Nijmegen-based semiconductor company Wingtech acquired in 2019.

Zhang has been removed as chief executive by a Dutch court and has not been publicly seen or heard from since.

The seizure has sparked a diplomatic row with China, where Nexperia’s chips are processed before entering the automotive supply chain. Beijing has blocked exports of Nexperia products, and local staff have been told to ignore orders from the Netherlands.

The move has raised national security concerns in the United Kingdom, where Nexperia operates a major facility in Manchester and employs more than 1,000 people.

The Dutch government said the globe-trotting executive was on the verge of executing a plan to hollow out Nexperia, transfer its technology to China, and enrich himself in the process.