Auburn Hills will be the new home of Nexteer Automotive Corp. by next summer in a move that is expected to relocate 150 mostly management employees and build its visibility within the auto supply chain.
The former Delphi Corp. steering division, which went public in 2013 on the Hong Kong Stock Exchange and reported nearly $3 billion revenue last year, said today it would relocate its headquarters from Saginaw by the second quarter 2016.
The company told Crain’s earlier this year that the company was closing on a lease in northern Oakland County to grow brand recognition, and President and COO Laurent Bresson revealed the actual city during the Center for Automotive Research Management Briefing Seminars in Traverse City.
Coming to Auburn Hills “provides us with a platform for long-term success and demonstrates our commitment to the state of Michigan and its talented auto industry workforce,” Bresson said Wednesday. “This stand-alone location will position us closer to our business partners, industry experts and will continue enhancing the Nexteer brand.”
The new location will house about 150 of Nexteer’s 5,000 Michigan employees, including its C-suite, global financial team, human resources, information technology and sales staff, the company has said.
AVIC Automotive Systems Holding Co. Ltd., a subsidiary of China-based Aviation Industry Corp., has been a controlling shareholder of Nexteer since General Motors Corp. in 2010 sold off the division, which it had taken over from Delphi in 2009. Auburn Hills houses either the headquarters or North American operations of 40 international corporations from 32 countries and is home to two Fortune 500 companies: BorgWarner Inc. and the American subsidiary of Autoliv Inc.
Nexteer reports a workforce of more than 12,000, more than 50 OEM customers and more than $400 million invested in Michigan since 2010.
“We’re a big part, and I believe the best example, of Chinese investment in the North American auto industry,” Bresson said. “We are guided by strong global leaders and fully supported by our largest shareholder. This commitment by our Chinese ownership and management, combined with the talented people who know the history and DNA of the company, continues to nurture new innovation and growth.”