Nexteer’s history can be traced back to 1906, when they were founded as Jackson, Church & Wilcox Co. in the United States. In 1909, this company was purchased by Buick, which was owned by GM. In 1917, the company became the first automotive parts manufacturing division of GM engaged in steering systems research, design and manufacture. It then operated as a business division under GM and was primarily involved in steering operations.
In 1998, GM created Delphi Corporation, primarily as an automotive components business under GM, and its steering operations became a major business division within Delphi Corporation. In 1999, Delphi Corporation was spun off by GM to become an independent, publicly held corporation.
In 2005, Delphi Corporation filed for Chapter 11 bankruptcy protection to reorganize its U.S. operations.
In 2009, GM acquired, among other things, the steering operations (which effectively comprise the operating subsidiaries of Nexteer) from Delphi Corporation and renamed the steering operations Nexteer Automotive. Nexteer Automotive then continued to operate as a business division of GM.
In December 2010, PCM China, a company controlled by Beijing E-Town, the financing and investment arm of the Beijing Municipal Government, acquired the company through its wholly owned acquisition vehicles from GM, and the acquired interests were transferred to PCM (US) Steering and PCM (Singapore) Steering immediately thereafter. In March 2011, AVIC Auto, a subsidiary of AVIC, acquired a 51 percent equity interest in PCM China from Beijing E-Town, becoming Nexteer’s Controlling Shareholder.