Multiple Tire Projects Worth Over 2 Billion Yuan, Weighing Heavily!
In the first half of this year, the domestic and foreign tire markets showed a good recovery momentum.
Many tire companies around the world are taking advantage of this opportunity to increase production, investing in new projects or expanding existing ones.
Nokian Tyres
On May 11, Nokian Tyres held a groundbreaking ceremony for its new Romanian factory.
The project has an investment of approximately 5 billion yuan and a planned production capacity of 6 million tires. It is expected to undergo trial production in the second half of 2024 and mass production will begin in early 2025.
sentury
Recently, Senqilin Morocco's "annual production of 6 million high-performance tires project" has obtained relevant overseas investment project registration.
The total investment of this project is about 2.1 billion yuan, located in Tangier, Morocco. The construction period is 18 months and is planned to commence in July 2023.
Red Star Macalline
In May, the Red Star Macalline Group's Shanxi Linfen tire and carbon black project was officially signed.
The project has an investment of 2.1 billion yuan and is planned to start construction in July this year. Its designed annual production capacity is 6 million sets of semi steel tires and 100000 tons of carbon black.
Michelin
On March 14, Michelin announced that it would expand Bridgwater Tire Factory in Canada.
The total investment of this project is approximately 2 billion yuan. It is expected to be completed by 2025, with new production capacity mainly focused on electric vehicle tires.
Zhongce Qingquan
On March 27th, the "All Steel Radial Truck Tire Project" of Hangzhou Zhongce Qingquan Industrial Co., Ltd. officially began construction.
The project plans to invest 2 billion yuan, with a total land area of 97.23 acres. After completion and production, it can produce 2.5 million sets of all steel radial truck tires annually.
General Stock
On June 8th, Jiangsu General Technology Co., Ltd. completed the filing of the "Inner Mongolia 1.3 million tire project".
The project has an investment of about 1.5 billion yuan and is located in Qingshan District, Baotou City. When completed, it will become the first high-performance intelligent tire factory in Baotou.
Double star tire
In May, the foundation of the Double Star Cambodian Tire Project was officially laid in Kratié province Province.
The total investment of this project is about 1.44 billion yuan, and the designed annual production capacity is 8.5 million units. It is understood that its investment in the Cambodia project is aimed at accelerating the implementation of the "localization" strategy.
Gubo (Kunshan)
On May 31st, the second phase expansion project of Gubo (Kunshan) Tire Co., Ltd. began laying the foundation.
The investment for this project is approximately 1.4 billion yuan. After completion, 2.6 million high-performance passenger car tires can be added annually.
Sumitomo Rubber Industries
In March, Sumitomo Rubber Industries said that it would expand its tire factory in Parana, Brazil.
The project plans to invest approximately 1.3 billion yuan. This factory mainly produces tires for passenger cars and trucks.
Sailun Group
The non highway tire technology renovation project of Sailun Group's Qingdao factory is currently under construction.
The total investment of the project is 833 million yuan, with a construction period of 10 months. After reaching the production capacity, it is expected to achieve an annual operating income of 1.3 billion yuan.
