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About Xuda Wang

An inclusive idealist. I am a Masters graduate from the University of Westminster. I’ve read over 1000 books, traveled to every province in China as a backpacker, and volunteered with several NGOs in Southeast Asia. I have many years of working experience as a journalist in the auto industry.

Entries by Xuda Wang

Federal signs off-take deal with Vietnam tyre factory

On 24 February, Federal signed an off-take agreement with Vietnam XT Tyre. According to the agreement between the two parties, XT Tyre will start to produce tyres for Federal in 2023 by Federal’s orders and production specifications. Federal did not disclose the details of the cooperation with XT Tyre, including the specifications and production capacity involved in the making the agreed products and the specific timetable for the collaboration between the two parties.

Related news:

  1. Cheng Shin launching 40 million tyre capacity expansion in China
  2. Taiwan-based tyre manufacturers raising prices
  3. Guizhou Tire begins $350 million construction project on two China factories
  4. USA to introduce antidumping, countervailing orders on PLT tyres from 4 countries
8th March 2023 by

Michelin China opens new Shanghai HQ

On 20 February 2023, Michelin held the opening ceremony for its new China headquarters office building in Shanghai. Joan Valadou, Consul General of France in Shanghai, Ye Fei, President of Michelin China, and others attended the event. The new headquarters of Michelin China is located in Changning District, started construction in September 2022 and was completed in January 2023.

Related news:

  1. Shanghai lockdown severely impacting the region’s tyre industry
  2. Maxxis to Construct New R&D Centres in Asia and US
  3. Michelin China Reproached for Environmental Standards
  4. Conti Breaks Ground on Asia Headquarters & Engineering Centre
27th February 2023 by
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Sentury will significantly increase production capacity in 2023

Sentury’s revenue and net profit in 2022 increased year-on-year. The tyre manufacturer’s annual report shows that last year’s revenue was 6.29 billion yuan (about £760 million; €860 million), an increase of 21.53 per cent. Net profit attributable to shareholders of listed companies was 800 million yuan (approximately £97 million; €1.1 billion), an increase of 6.3 per cent.

Related news:

  1. Shangdong Hengyu making graphene tyres
  2. Decennial shift in global PCLT tyre volume market share
  3. Linglong hosts partner meeting in Turin
  4. Prinx Chengshan: Milestones reached in Thailand, China plant projects
21st February 2023 by

New Doublestar factory in Cambodia

On 20 February 2023, the board of directors of Doublestar reviewed and approved the proposal to build a factory in Cambodia. The tyre manufacturer reportedly plans to establish a joint venture with UBE Development Co., Ltd in order to complete the plans.

Related news:

  1. Serbia open for business
  2. Sailun’s Cambodia factory begins tyre production
  3. China’s GS Tire raises Cambodia investment to $300 million
  4. Sailun bond issuance application approved
20th February 2023 by
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Sinochem Holdings denies selling Pirelli stake

On 16 February, Marco Polo International Italy S.r.l. (Marco Polo) stated that “Sinochem does not have any plan to sell its stake in Pirelli”. Marco Polo is Pirelli’s largest shareholder, holding a 37.01 per cent stake in the tyre maker. The ownership of Marco Polo belongs to China National Tyre & Rubber Co., Ltd (CNRC) under Sinochem Holdings.

Related news:

  1. Pirelli major shareholder Chemchina restructuring
  2. Pirelli shareholders amend agreement, some parties end co-investment accord
  3. ChemChina front-runner to buy Pirelli
  4. ChemChina now holds 30% of Pirelli shares
17th February 2023 by
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Nokian Tyres exits Chinese market

The official Chinese website of Nokian Tyres states that the Finnish tyre manufacturer is withdrawing from business in the Chinese market due to its “limited production capacity”.

Related news:

  1. Nokian Tyres: “substantial uncertainties” relating to timing of Tatneft deal closure
  2. Nokian Tyres staying in Russia
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Is Nokian Tyres a takeover target?
8th February 2023 by

Customs fines Hankook Jiangsu factory again

On 13 January, Huai’an Customs issued an administrative penalty decision to Jiangsu Hankook Tire Co., Ltd. The subject of the penalty involved 271,000 yuan (approximately £32,500, €36,900) in tax underpayment. The penalty document issued by Huai’an Customs shows that Jiangsu Hankook failed to truthfully declare the price of bonded materials during the process of declaring to the customs.

Related news:

  1. For Yinbao Tyre, imitation is the highest form of flattery
  2. Cooper counters Apollo offer reduction talk with statement
  3. VMI awarded damages in Shuangjun case
  4. Hankook tyres for electrified bus fleet
3rd February 2023 by
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Wang Feng resigns as general manager of Aeolus

On 19 January 2023, Aeolus stated that Wang Feng resigned from the role of general manager due to work needs. However, while he has left that position, Wang Feng remains chairman of Aeolus. On 5 December 2022, Wang Feng was appointed as the chairman of China National Tire & Rubber Co., Ltd. (CNRC), the controlling shareholder of Aeolus

Related news:

  1. Wang Feng resigns as Aeolus Tyre chairman
  2. Aeolus Tyre is a ‘strategic’ enterprise for China
  3. Wang Feng appointed chairman of CNRC
  4. Chinese truck tyres: EC proposes revised anti-dumping duties
31st January 2023 by
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Up to 49” – Sailun upgrading OTR tyre production

On 18 January, Sailun Group announced an 833-million-yuan (£99.63 million) investment to upgrade OTR tyre production at its plant in Qingdao, China. The upgrade will allow Sailun to produce OTR tyres in sizes up to and including 49-inch. The tyre maker intends to complete this upgrade and adjust its production portfolio within a period of ten months.

Related news:

  1. Sailun Group extends capacity expansion project
  2. Sailun investing big in PCR tyre capacity to reach premium OEMs in China
  3. Sailun raising truck tyre capacity by 3 million units
  4. Sailun upgrading car & truck tyre production at acquired factory
24th January 2023 by
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Sentury self-financing Spanish tyre factory shortfall

On 17 January, Sentury said it will adjust its financing plan through the stock market and specifically non-public offering of shares. After the adjustment, the tyre manufacturer will obtain no more than 2.8 billion yuan (about £330 million; 380 million euros), which is far lower than the 4 billion yuan (about £480 million; 540 million euros) proposed in the previous plan.

Related news:

  1. Chinese aviation fund invests in, partners with Sentury Tire
  2. Sentury internationalising with US tyre factory investment
  3. Georgia selected as location for $500 million Sentury Tire US factory
  4. Sailun bond issuance application approved
24th January 2023 by
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Agustin Pedroni appointed Bridgestone China general manager

As of January 2023, Agustin Pedroni has become general manager of Bridgestone (China) Investment Co. Ltd. Pedroni joined Bridgestone in Argentina in 1996 and worked in administration, sales and marketing roles in Argentina, Latin America and South America. Pedroni came to Bridgestone Asia Pacific in 2019 is the vice president of marketing and sales and was later promoted to the chief operating officer of the Asia Pacific region.

Related news:

  1. Doublestar names Antonio Smith as general director for Spain and Portugal
  2. Mesnac appoints Guan Bingzheng as chairman and CEO
  3. Former chairman of Sinochem Holdings Ning Gaoning retires
  4. ZC Rubber names new sales director for agricultural tyres in Europe
13th January 2023 /1 Comment/by

Guizhou Tyre terminates ‘all-steel tyre project’

On 11 January 2023, Guizhou Tyre (also known as Advance Tyre) stated that it has terminated one of its recent tyre manufacturing projects before it got to the construction stage. Guizhou Tyre said its “3 million sets of high-performance all-steel radial tyres” a year construction project was closed down effective 31 December 2022.

Related news:

  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Guizhou (Advance) Tyre plans to expand EU sales
  3. For Yinbao Tyre, imitation is the highest form of flattery
  4. Pyramids Tires: $350 million Egyptian factory begins manufacturing
13th January 2023 by

China’s tyre industry under the wave of infections

With the relaxation of epidemic prevention and control policies, China has experienced a large-scale infection wave since early December. Many tyre factories have experienced or are experiencing worker shortages. The Lunar New Year in China is likely to see hundreds of millions of people to move around the country, leading to a more rapid spread of Covid-19. It is difficult to predict when China will shake off the epidemic’s impact; for the Chinese tyre industry, the current wave of infections is both a challenge and an opportunity.

Related news:

  1. Shandong tyre companies implement closed-loop management
  2. ZC Rubber resumes full tyre production
  3. Tyre importers should plan for lack of space on ships and freight increases
  4. ZC Rubber’s “remarkable” 2020, new products & digital strategy
11th January 2023 by
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ZC Rubber offers IPO update, Thailand factory supports profit in 1H 2022

Hangzhou Zhongce Rubber Co. Ltd (ZC Rubber) recently issued an update on the progress of its initial public offering (IPO). According to the data, Zhongce Haichao (a company established by four local Hangzhou enterprises in 2019 in order to invest in ZC Rubber, namely Hangzhou Great Star Industrial Co., Ltd., Hangcha Group Co., Ltd., Juxing United Holding Group Co., Ltd., and Hangzhou Haichao Enterprise Management Partnership (Limited Partnership) holds 41.08 per cent of the tyre manufacturer’s shares and is the company’s controlling shareholder. Qiu Jianping and his daughter Qiu Fei hold 46.95 per cent of the shares and corresponding voting rights of ZC Rubber through Zhongce Haichao and several other companies and therefore control ZC Rubber.

Related news:

  1. ZC Rubber’s Thailand factory in production
  2. Jiangsu General investing US$300 million in Thailand tyre plant
  3. Prinx Chengshan the only HKEX-listed tyremaker at Tire+
  4. ZC Rubber preparing for IPO
11th January 2023 by

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