NEWS

Chinese auto supplier Shanghai Automotive to invest $15.1M in new Madison Heights plant,Michigan

Thursday, Nov 20, 2014

Chinese automotive electronics component supplier Shanghai SIIC Transportation Electric Co. Ltd. is establishing a North American operations in Madison Heights.

STEC USA Inc., a subsidiary of China’s largest automaker, Shanghai Automotive Industry Corp., will invest $15.1 million to open a new headquarters and manufacturing operation in an existing building at 31831 Sherman Ave.

The project stems from STEC winning several contracts with General Motors Co., requiring it to have a presence in North America, according to a state memo on the project.

The project is expected to create 176 new jobs and is supported by the Michigan Economic Development Corp. in the form of a $700,000 Michigan Business Development Program performance-based grant.

“STEC USA’s decision to establish its North American headquarters in Michigan tells global companies that Michigan holds great opportunities for growing their business,” MEDC President and CEO Michael Finney said in a news release. “Michigan leads the country in new manufacturing jobs creation, and the new jobs resulting from this investment will keep us moving in the right direction.”

Madison Heights is also supporting the project with brownfield grants. The city was chosen over a competing site in Missouri, the MEDC memo said.

The facility will manage STEC USA’s operations as well as manufacture automotive window regulators, electric horns and other electronics. It’s also expected to house research and development functions as well as warehousing.

 

Source:http://www.crainsdetroit.com/