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Most western component makers have been forced out of business.
Citroën, along with a bevy of component makers, builds in Vigo.
The spinoff of Hyundai Motor is expected to include its sister automaker, the Kia Motors Corporation, and several component makers.
The funding would help component makers diversify and continue in business even after the big carmakers close.
A major problem for all the automakers is ensuring a reliable supply of parts from Japanese component makers.
Davies added that Australia benefited from being a partner country because its component makers can bid for work contributing to the jet.
Directors at Toyota UK, Vauxhall, Jaguar Land Rover and BMW, as well as from component makers GKN and Magal Engineering, also backed the remain campaign.
Similar(4)
Power cuts and strike-prone car unions have made it harder for car-component makers there to compete with a wave of cheap Chinese imports.
TRW Automotive (21) is one of the world's largest auto-component makers.
Already, Richemont and LVMH are buying up smaller component-makers.
The lack of scale works its way down to local component-makers.
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