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China deepens auto ties in Michigan

China Daily USA | Updated: 2018-01-19 16:57
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History's epicenter

Qiang Hong, senior research scientist at the Center for Automotive Research in Ann Arbor, Michigan, said Chinese investment in Michigan began in the early 2000s. Successful examples include Pacific Century buying Nexteer in 2010. In 2013, Wanxiang America Corp, the North American subsidiary of the Chinese auto parts conglomerate Wanxiang Group, purchased bankrupt battery maker A123 Systems Inc. Recently, Key Safety Systems unveiled the $1.6 billion purchase of air-bag maker Takata Corp.

"Now the (auto) investment is becoming more of a two-way street. It's not just focused on US companies going to China, but Chinese companies coming to the US," said Hong.

Kerrigan noted that the North American auto industry started in Michigan in the late 1800s and early 1900s. "At that time Detroit was the epicenter of the auto industry and industry giants like Ford and General Motors were stated," he said. "Michigan has remained the state in the US where vehicles are designed and built. We are still the leader in the development of motor vehicles today."

The Nexteer purchase symbolizes how the Chinese used their US auto investments to not only bolster its domestic industry, but also to strengthen its rapidly emerging economy. China's leadership considers the automotive sector a major pillar of its economy.

In 2010, Nexteer was acquired by China's Pacific Century Motors, a joint entity formed by E-Town, a state-owned enterprise that serves as the financing and investing arm of the Beijing municipal government, and China-based PCM Systems, a manufacturer of automotive components. In 2011, AVIC Auto, a subsidiary of AVIC, purchased a 51 percent controlling stake in Pacific Century Motors.

Nexteer, the former Delphi Saginaw Steering Systems, became a wholly owned, standalone subsidiary of GM when Delphi Corp emerged from Chapter 11 bankruptcy in 2009. Nexteer had been seeking new ownership since then because it made steering components for other car makers outside of GM.

The Nexteer acquisition and others that followed showed that Chinese investment wasn't just focused on acquiring technology, according to Hong. "While technology was important, the Chinese also used US purchases to bolster their management skills, business operations expertise and to learn a different business and cultural environment," he said. "This will help them to create companies capable of competing on a global scale in an industry that is increasingly turning to a global approach."

In another major Chinese investment, auto supplier Yanfeng Automotive Interiors has emerged as a leading supplier of instrument panels and cockpit systems, door panels, floor consoles, overhead consoles, lighting and decorative trim. The company was formed in 2015 as a joint venture between Yanfeng Automotive Trim Systems Co Ltd and Adient, the former seating unit of Johnson Controls Inc.

"Following the downturn in 2008 (global financial crisis) Chinese investment in the Midwest saved and strengthened some suppliers and some of their product lines," said Jayson Pankin, president and CEO of the Auto Harvest Foundation and a former executive with auto supplier Delphi Corp.

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