Well-known Chinese news site Sina recently reported that the American branch of the Fuyao Group, the world’s largest automobile glass provider, headquartered in China, received awards from the Ohio government. Fuyao got a lot attention in the U.S. after Netflix released a documentary on the American Factory. Former U.S. first family Barack and Michelle Obama produced the documentary. It created a lot of buzz in the States due to its policies that were not pro-union. In the meantime, Fuyao caused major discussions in China and for a period time was considered a “traitor” to invest in U.S. manufacturing rather than in China’s. Fuyao Chairman Cao Dewang made harsh comments about the Chinese investment environment not being business-friendly. He also stated that the cost of doing business in the U.S. is lower than in China in all aspects except labor rates. Currently Fuyao has a US$900 million investment in five U.S. states, making glass locally in the United States and supplying glass to a quarter of the U.S. made vehicles. It has been profitable for the past three years.
Source: Sina, January 8, 2020
https://finance.sina.com.cn/chanjing/gsnews/2020-01-08/doc-iihnzahk2638561.shtml