E-Town Capital joined AVIC Automotive Systems Holdings Co in putting a total of $480 million acquiring the steering and drive line of Nexteer Automotive Co in April 2011, and put its Chinese HQ in Beijing’s Economic-Technological Development Area, as China's largest foreign automotive spare parts acquisition at that time. This saved Nexteer Automotive from financial difficulties and helped it go public on the Hong Kong Stock Exchange in 2013. In 2015, the company’s accounts receivable were $3.36 billion, with profits of $210 million. This was a textbook case of a Chinese enterprise overseas acquisition and it helped to narrow the technological gap between the Chinese automotive parts industry and international counterparts.