Aumovio secures export exemption in Nexperia chip supply crunch, CEO says

BERLIN (Reuters) -Germany’s Aumovio, ​one of the automotive ‌suppliers facing pressure on its supply ‌chains in the spat over Nexperia, has received an exemption from China to resume exports ⁠of the ‌company’s chips, its chief executive said ‍on Friday.

“We applied for and received an exemption from the export ​restrictions. We received it ‌the day before yesterday verbally, yesterday in writing,” CEO Philipp von Hirschheydt said after the company reported ⁠its third-quarter ​results.

Regarding possible furlough ​measures prepared by the company as a precaution, he ‍added,⁠ “We assume that this will most likely not ⁠be necessary.”

(Reporting by Rachel ‌More and Christina AmannEditing ‌by Ludwig Burger)