STEVE INSKEEP, Host: NPR's business news starts with China buying into the U.S. auto industry.</s>STEVE INSKEEP, Host: Delphi is one of the country's largest auto parts companies, but it's been struggling for years. This deal with the Chinese might finally give Delphi the cash it needs to emerge from bankruptcy. It would also allow Delphi to get out of businesses it no longer wants to be in. If a bankruptcy court approves, the Chinese consortium would buy the Delphi businesses for $100 million.
Auto parts supplier Delphi has signed an agreement with a group of Chinese companies and the Beijing city government to sell its brakes and suspension business. The Detroit Free Press calls this the most high-profile acquisition yet by the Chinese in the American auto industry. The deal might give Delphi the cash it needs to emerge from bankruptcy.