Leaders in the Sale of Quality Mopar Parts

Continued from Page 26

China’s Sunrise Elc Technology Co., which supplies electrical components to German auto parts maker Robert Bosch GmbH and Japan’s Panasonic Holdings Corp., has already established a plant in Vietnam that makes set-top boxes for the consumer market overseas. On top of speeding up plans to acquire related creden als to produce auto parts in the Vietnam factory, it’s seeking sites in Europe and the US. The overseas expansion has mainly been driven by the “fast-changing interna onal situa on,” Sunrise Chief Marke ng Officer Timothy Huang said, referring in par cular to China’s trade and poli cal tensions with the US. Some policies implemented during the trade war, such as increased tariffs on a variety of Chinese goods, have now become normalized, Huang said in an interview from his office in Shanghai.

“What happened to consumer electronics is likely to be repeated in the automo ve chain,” he said. The shiing out of auto parts will “just be a ma er of me,” especially a er Covid and lockdowns in key manufacturing hubs crippled the supply chain.

Priori es shi

For the first me in about 25 years, China isn’t a top three investment priority for a majority of U.S. firms, an American Chamber of Commerce in China survey showed. The survey also found the propor on of companies moving supply chains elsewhere, or considering doing so, had almost doubled from a year ago.

With the challenges of doing business in China moun ng, the European Chamber of Commerce in China said some of its members and their suppliers and partners have begun to make investments in other markets as they seek to build supply chain resilience. A survey it conducted last year showed that 23 percent respondents were considering shi ing their current or planned investments out of China, the highest on record.

Minth Group Ltd., which makes structural body parts for cars along with decora ve components and interior trims, last year signed an agreement with Renault SA to set up a joint venture to make ba ery boxes at a plant in Ruitz, France and broke ground on a factory in Poland that it will operate with Sanhua Holding Group Co. Those add to factories in Thailand, Germany, Serbia, the Czech Republic, the UK, Mexico and the US.

“We’ve all seen some recent trend of reverse globaliza on,” Liu Yanchun, Minth’s chief opera ng officer, said at an event in Shanghai in February. Other factors behind the shi include growing restric ons on Chinese exports ushered in by President Joe Biden’s Infla on Reduc on Act — which aims to reduce reliance on Chinese materials, par cularly in electric cars. U.S. automakers are also favoring more local suppliers, and clients are demanding faster response mes to fill orders. By spreading produc on facili es around the world, Liu said Minth would be be er placed to deal with client needs and geopoli cal risks such as trade tensions or the outbreak of war.

“We’ll have many cards to play, and will never be checkmated,” he said.