China Carmakers’ Europe Move Boon for Industry, Schaeffler Says

Schaeffler AG sees Chinese manufacturers making cars in Europe as an opportunity for more business as well as expertise from the new entrants.

The maker of ball bearings and hybrid vehicle powertrains is well prepared to supply parts to carmakers from China, Chief Executive Officer Klaus Rosenfeld said Tuesday in an interview. Manufacturers led by BYD Co. and Chery Automobile Co. are starting to make cars in the region after grabbing market share from the likes of Volkswagen AG and Renault SA.