China buys parts-makers in bid to gain foothold in US amid tensions
Add BT as a preferred sourceHong 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.
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS to remove mandatory financial advice for complex products for most retail investors
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
