![Aeolus is changing its overseas sales model](https://www.tyrepress.com/wp-content/uploads/2024/05/Aeolus.jpg)
Aeolus is changing its overseas sales model
Aeolus’ revenue in 2023 will be 5.74 billion yuan (approximately £620 million; €730 million), an increase of 15.05 per cent from the previous year. Among the market shares, domestic market revenue accounted for 52.23 per cent, and replacement and OE accounted for 28.58 per cent and 23.65 per cent, respectively. According to the tyre manufacturer, it will launch a new 12R22.5 TBR product portfolio in the domestic market in 2023.
Continue Reading![China’s tyre export growth continued to slow in April](https://www.tyrepress.com/wp-content/uploads/2024/05/wolfgang-weiser-7Ycx0Bp9SsQ-unsplash.jpg)
China’s tyre export growth continued to slow in April
Data from China Customs shows that tyre exports continued to grow in April. The quantity and value of exported tyres were 55.49 million units and 13.32 billion yuan (approximately £1.45 billion; €1.7 billion).
Continue Reading![Symbio, in partnership with Michelin, presents first hydrogen heavy-duty truck](https://www.tyrepress.com/wp-content/uploads/2024/05/Symbio_s_first_hydrogen_truck__Illustration_01.png)
Symbio, in partnership with Michelin, presents first hydrogen heavy-duty truck
Two years after announcing the H2 Central Valley Express project, USA-based zero-emission hydrogen mobility firm Symbio has unveiled a hydrogen-fuelled, regional-haul Class 8 truck. It developed and integrated this innovative vehicle in-house and has equipped it with EV-specific tyres from co-shareholder Michelin that offer improved fuel economy and reduced wear.
Continue Reading![Huasheng Group to start Cambodia tyre factory project in 2024](https://www.tyrepress.com/wp-content/uploads/2024/05/IMG_9961-scaled.jpg)
Huasheng Group to start Cambodia tyre factory project in 2024
The Dongying, Shandong Province-based Huasheng Group is planning to add a Cambodia tyre production plant to its portfolio of five factories. While there are few details at the moment, the even-lower-than-Chinese production costs paired with the company’s desire to increase tyre export sales are said to be the main motivations behind the move. Tyres & Accessories met company representatives during the recent GuangRao Tire and Rubber Auto Accessory Exhibition, which took place between 15 and 17 May in Dongying where the company had no less than five generously proportioned stands exhibiting its range of car, 4x4, light truck as well as truck and bus tyres.
Continue Reading![Davanti showing new tyres on ‘biggest stand yet’ at Tire Cologne](https://www.tyrepress.com/wp-content/uploads/2024/05/Davanti-Tire-Cologne-Updated-1-scaled.jpg)
Davanti showing new tyres on ‘biggest stand yet’ at Tire Cologne
Davanti Tyres reports that it will be appearing at The Tire Cologne in June with its “biggest stand yet”. Referring to the exhibiting as “the worlds leading trade fair for the tyre industry”, Davanti representatives report plans to use the event as an opportunity to host partners and explore new distribution leads. At the same time, Davanti Tyres will be showcasing “a wide range of products including all-season, winter, high performance and commercial tyres”.
Continue Reading![Triangle Tire’s Europe and Middle East sales grew rapidly in 2023](https://www.tyrepress.com/wp-content/uploads/2024/05/Triangle.jpg)
Triangle Tire’s Europe and Middle East sales grew rapidly in 2023
In 2023, Chinese tyre manufacturer Triangle’s achieved revenue of 10.42 billion yuan (about £1.13 billion; €1.33 billion) and net profit of about 1.4 billion yuan (about £150 million; €180 million). Revenue of 10.42 billion yuan means that Triangle has surpassed Double Coin in the ranking of Chinese tyre manufacturers in 2023 and comes in behind ZC Rubber, Sailun and Linglong.
Continue Reading![EV tyre sector leading the race to recovery: Comparing recent developments in the Chinese and European tyre markets](https://www.tyrepress.com/wp-content/uploads/2024/05/IMG_9948-scaled.jpg)
EV tyre sector leading the race to recovery: Comparing recent developments in the Chinese and European tyre markets
During our recent visit to China, on the sidelines of the GRTAE expo hosted in what can only be described as the tyre capital of the People’s Republic, Tyres & Accessories enjoyed a panel discussion with Car and Tire editor, Alex Shi. Formerly an executive within the tyre industry – including time with Goodyear – Car and Tires focuses on business-to-business communications and is particularly strong when it comes to tyre testing and in the social media space. Indeed, they are something of a force online, with some 300,000 followers on WeChat, which is a bit like WhatsApp is here in the West. True to form, not only was our discussion hosted in the main meeting room at GRTAE, it was also video recorded and streamed live to a potential of hundreds of thousands of Chinese-language followers in the East. Beginning with the current state of the respective Chinese and European tyre markets in light of recent macro-economic market trends, our discussion then moved onto the similarities and differences between the European and Chinese online tyre sectors (see part two).
Continue Reading![Goodyear involuntary manslaughter probe: Eurojust running ‘coordination centre’ in the Hague](https://www.tyrepress.com/wp-content/uploads/2024/05/web-tyre-case.jpg)
Goodyear involuntary manslaughter probe: Eurojust running ‘coordination centre’ in the Hague
Following the news of unannounced raids on Goodyear offices in France, Belgium and Luxembourg, Eurojust has confirmed that it has assisted the authorities in France, Belgium and Luxembourg with a series of coordinated searches of premises and offices of “an international tyre manufacturer”. While Eurojust hasn’t yet confirmed the identity of the manufacturer at the centre of the investigation, the locations match those that Goodyear itself has said were subject to unannounced visits.
Continue Reading![USA: Preliminary anti-dumping duties on truck & bus tyres from Thailand](https://www.tyrepress.com/wp-content/uploads/2024/05/US-flag2.jpg)
USA: Preliminary anti-dumping duties on truck & bus tyres from Thailand
The U.S. Department of Commerce has announced preliminary findings in its investigation into whether truck and bus tyres imported from Thailand are selling in the United States at unfairly low prices. This comes after the USA saw a significant increase in these tyre imports, which more than doubled in quantity over two years, reaching a value of US$1.46 billion in 2022.
Continue Reading![CST to launch Saleks E·X1 EV tyre in Cologne](https://www.tyrepress.com/wp-content/uploads/2024/05/Picture1.jpg)
CST to launch Saleks E·X1 EV tyre in Cologne
CST Tyres is set to launch its new Saleks E·X1 electric vehicle tyre at 13:30 on 4 June at The Tire Cologne. According to CST, the Saleks E·X1 represents “a breakthrough in tyre technology, addressing the challenges posed by the heavier weight of electric vehicles, primarily due to their battery packs”.
Continue Reading![USTMA and TIA form Tire Recycling Foundation](https://www.tyrepress.com/wp-content/uploads/2024/05/tire-recycling-foundation.jpg)
USTMA and TIA form Tire Recycling Foundation
During a recent tyre recycling event held in the USA, the U.S. Tire Manufacturers Association (USTMA), in collaboration with the Tire Industry Association (TIA), announced the establishment of the Tire Recycling Foundation. This new initiative aims to secure funding and allocate grants for research, education, intervention, and demonstration projects, addressing critical knowledge and research gaps within the US tyre recycling supply chain.
Continue Reading![Financing round secures funds for Europe’s largest ELT pyrolysis plant](https://www.tyrepress.com/wp-content/uploads/2024/05/Circtec-Project_launch_ceremony.jpg)
Financing round secures funds for Europe’s largest ELT pyrolysis plant
Circtec, a specialist in pyrolysis technology for sustainable end-of-life tyre recycling, has secured €150 million in a recent financing round. Novo Holdings and A.P. Moller Holding spearheaded this initiative with a €75 million equity investment. The financing also includes €22.5 million in grants awarded by the Government of the Netherlands.
Continue Reading![Cosmo Tires Hosts 2nd Car & Truck Show at TGI HQ](https://www.tyrepress.com/wp-content/uploads/2024/05/TGI-Front-Lot-scaled.jpg)
Cosmo Tires Hosts 2nd Car & Truck Show at TGI HQ
Cosmo Tires, the private label brand exclusively distributed by Tire Group International (TGI), hosted its second annual Car & Truck Show, dubbed “Kool Kat Ambush” at its 200,000 square foot facility in Miami, Florida.
Continue Reading![Top Recambios exhibiting at Tire Cologne 2024](https://www.tyrepress.com/wp-content/uploads/2024/05/ALGINET_3-scaled.jpg)
Top Recambios exhibiting at Tire Cologne 2024
Top Recambios, a Valencian company specialising in the multi-brand distribution of tyres, reports that it is will sharing details of its ”cutting edge…4.0 distribution concept”, which is said to achieve “an optimum connection between the most advanced solutions and the needs of its customers”.
Continue Reading![Ecolomondo appoints CEO, Sorella becomes Executive Chairman](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Ecolomondo appoints CEO, Sorella becomes Executive Chairman
Ecolomondo Corporation, a Canadian cleantech company that has developed thermal decomposition technology for recovering raw materials from scrap tyres, has appointed Gary Economo as Chief Executive Officer. Economo succeeds Eliot Sorella, who assumes the role of Executive Chairman while retaining his position as Chairman of the Board of Directors.
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