I think end result will be to ditch proposal idea.
Going private will result in big auto manufacturers looking elsewhere, for a public wheel mfg. source.
Auto companies demand transparency, and do not feel secure with awarding meaningful business to a private supplier.
Regarding this proposal:
I think the Chairman had wishful thinking, then asked for outside assistance with his idea. Chairman must not be an Auto guy, but rather the guy who stole this business when the China government spun it out, from public to private. ( just like what happened to State owned companies in Russia).