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.
In August, China’s tyre exports continued the same trend witnessed since June, with the export volume exceeding 60 million unit. This month, China exported 61.86 million tyres, better than the 60.6 million in July but still far from the 65.08 million total in June.
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Doublestar has sold its Guangrao-based factory, Guangrao Jixing, to Lubo Rubber for 205 million. The two parties signed a Property Rights Transaction Contract in September 2024, confirming what we published in May 2024.
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Doublestar has held a ceremony to celebrate the start production at its Cambodia tyre factory. The factory’s total investment is about US$200 million. It is a joint venture between Doublestar and Zhongqi Holding Group. At total production levels, it will be able to produce 7 million semi-steel radial tyres and 1.5 million full-steel radial tyres per year.
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Sailun Indonesia factory held a groundbreaking ceremony on 17 September. The tyre manufacturer called the Indonesian project “another important layout of the globalisation strategy”, “meeting the product and service needs of the local market”, and “enhancing the competitiveness and influence of Chinese tyre brands in Southeast Asia and even the global market”.
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Aeolus recently decided to increase the production capacity of giant tyres again. The tyre manufacturer said it will invest about 1.464 billion yuan (about £160 million; €180 million) to add 20,000 giant engineering radial tyre production capacity. Through the new project, the tyre manufacturer is trying to “further optimise the product structure, seize the high-end market, and increase market share.”
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The Shandong authorities have presented a 2024-2027 action plan designed to improve the productivity of the tyre industry in its jurisdiction.
Tyrepress China found that Shandong Province is trying to build two tyre industry clusters, Peninsula and Lubei, accounting for more than 80 per cent of the province, with revenue of 60 billion yuan and 80 billion yuan, respectively.
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In the first half of 2024, Triangle achieved revenue of approximately 5 billion yuan (roughly £535 million; €635 million), a decrease of around 200 million yuan from the same period in 2023. Net profit attributable to shareholders of listed companies increased by 0.67 per cent year-on-year to 612 million yuan (approximately £65 million; €78 million). However, after deducting non-recurring gains and losses, the company’s net profit fell by 3.23 per cent year-on-year. And it is worth noting that cash flow declined by 49.93 per cent compared with the first half of 2023.
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Qingdao, China-based tyre dealer, Sunset Tires Corp, is considering building a tyre factory in Brazil, according to local news reports. Specifically, the company reportedly plans to invest $256 million to produce XBRI brand passenger car tyres for the Brazilian and US markets.
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At the end of August, Tyrepress China learned that Zhongyi Rubber, a tyre manufacturer in Guangrao, Shandong, plans to build a semi-steel radial tyre (PCR) production line. The new production line has a capacity of 12 million tyres, including 4 million ultra-high-performance tyres, 6.5 million tyres for new energy vehicles, and 1.5 million all-terrain and mud tyres.
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The 100 millionth PCR tyre has rolled off the production line at Continenta’s Hefei, China, factory, according to the company. Due to OE contracts with some of the largest and fastest-growing EV-makers, the factory is becoming increasingly of key importance to tyre supplies of electric vehicle OEMs.
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Jiangsu General reports that the first tyre rolled off the production line of its Cambodia Factory Phase II project. The tyre manufacturer defines this milestone as “another historic and important moment in the internationalisation journey”. Gu Cui, chairman of Jiangsu General, said that the commissioning of the Cambodia Factory Phase II project will promote Jiangsu General’s “industry internationalisation, intelligence, and green transformation to a new level”.
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After the news that Chinese tyre manufacturer Aulice has decided to build a tyre factory in Tanzania came out, Tyrepress China specially visited local auto parts wholesalers and discussed with them the possibility of Chinese companies building tyre factories locally.
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Another Chinese tyre manufacturer has set its sights on Africa for its overseas factory plan. Aulice, a tyre manufacturer in Hubei, China, has decided to build a manufacturing plant in Tanzania with an annual output of 1.2 million sets of all-steel radial tyres.
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Tyre makers in China exported 60.6 million tyres in July 2024, exceeding the 60-million mark for the second consecutive month. Volumes were up 6.8 per cent year-on-year in July, with the value of these tyre exports amounting to 14.05 billion yuan (£1.49 billion).
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The US International Trade Commission (ITC) voted to conduct an anti-dumping and countervailing duty sunset review on truck and bus tyres (TBR) imported from China. The review results show that Chinese tyre exports may harm the US industry again, and anti-dumping and countervailing duties should be continued.
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