China buys parts-makers in bid to gain foothold in US amid tensions

Hong Kong

CHINESE companies started talking a decade ago about cracking the US auto market with low-cost passenger vehicles. That hasn't happened, so instead they're getting under the hoods of American cars by buying up parts-makers at a record pace.

Ningbo Joyson Electronic Corp supplies windshield-washer and ventilation systems to big carmakers, including Ford Motor Co, General Motors Co and Volkswagen AG. Last year, it spent more than US$1 billion buying a Michigan maker of air bags and an Indiana manufacturer of assembly-line equipment.