Jiangsu General increases Cambodian factory capacty, terminates China plant plans
Jiangsu General has terminated its plan to build a tyre factory in Baotou, China, on the grounds that “[China’s] domestic all-steel tyre market is still in a weak recovery stage and cannot meet the expected development”. At the same time, the tyre manufacturer is preparing to invest 1.495 billion yuan (approximately £165 million; €191 million) in the expansion of its Cambodian factory. The construction period of the expansion project is 18 months. After its completion, the annual output of the Cambodian factory can increase to 3.5 million semi-steel radial tyres (PCR) and 750,000 all-steel radial tyres (TBR).
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Chaoyang Long March changes chairman
Chaoyang Long March staff confirmed to Tyrepress China that the tyre manufacturer’s chairman had been changed from Li Qingwen to Jin Yongsheng. Jin Yongsheng still serves as general manager of Chaoyang Long March.
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NABL certifies HASETRI as ‘world’s first’ rolling resistance proficiency testing provider
Hari Shankar Singhania Elastomer and Tyre Research Institute (HASETRI) has become the world’s first accredited Proficiency Testing Provider (PTP) for Rolling Resistance Tests by the National Accreditation Board for Testing and Calibration Laboratories (NABL). The unique certification has been awarded according to ISO 17043:2010 standards for C1 (passenger car tyres), C2 (light truck tyres), and C3 (heavy truck tyres) tests.
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ACMA Automechanika New Delhi grows
Bringing together 500+ exhibitors from 12 countries, the fifth edition of ACMA Automechanika New Delhi is geared to fill its 25,000 square metre show floor. The three-day expo is scheduled to hit the ground from 1 - 3 February 2024 at Pragati Maidan, New Delhi with a robust display of the latest innovations. This will be the first physical edition of the event post-COVID-19.
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JK Tyre raises 5 billion rupees
JK Tyre & Industries Limited has successfully concluded a 5-billion-rupee (£47.474 million; 55 million euros; US$60.125 million) Qualified Institutional Placement (QIP). The QIP was priced at 345 rupees per share (including a premium of 343 per share with face value of 2 rupees per share). According JK Tyre, the QIP received an “overwhelming response” from “marquee investors including Indian mutual funds, insurance companies and foreign institutional investors”.
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Goodyear supports Team De Rooy with tyres, TPMS in Dakar 2024 rally
Goodyear is supporting Team De Rooy at the Dakar 2024 rally, which begins today, the latest instalment in the ongoing partnership between the companies. Goodyear is the official tyre supplier of the Dutch team, fitting Goodyear Offroad high-performance tyres and supplying its tyre management solutions in every stage of the competition. Team De Rooy will monitor its three entries’ tyre temperature and pressure levels in real time with Goodyears TPMS to respond to challenges and minimise downtime on the rally. Goodyear said that its support “underscores the companys enduring commitment to truck motorsport;” it is also the title sponsor of the Goodyear FIA European Truck Racing Championship (ETRC). Goodyear says it uses the challenges it faces in truck racing as a testing ground for advancing tyre technologies and product development.
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Transaid exceeds second phase of driver training goals in Uganda
International development organisation Transaid has concluded phase two of its Professional Driver Training project in Uganda, with 890 predominantly HGV drivers being trained over a two-year period – exceeding the project’s original training goal by more than 15 per cent. Delivered in partnership with local non-governmental organisation (NGO) Safe Way Right Way, the project set out to improve the standards of driver training in a country which suffers one of Africa’s worst road traffic incident rates, claiming an estimated 12,000 lives a year.
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Xpeng offers China-wide advanced ADAS
Chinese electric vehicle maker, Xpeng Inc, has given customers in the People’s Republic access to its XNGP urban driving ADAS capabilities across the country via an over-the-air (OTA) update. Xpeng reports that it is the first Chinese vehicle maker to offer such services and has therefore “taken the lead in terms of urban roads coverage and customer experience of mass-produced high-level ADAS”. Now the plan is to extend XNGPs coverage to a total of 200 cities across China by early 2024.
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Michelin named BRM Aero exclusive tyre supplier
Czechia-based aircraft manufacturer BRM Aero has entered into an exclusive 100 per cent OEM partnership with Michelin for global retail sales. Announcing the arrangement, Martin Bristela, the general aviation luxury light sport aircraft specialist’s chief executive officer, states that “our partnership with Michelin, a world leader in tyre technology, represents a new chapter for BRM Aero.
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Job cuts & shortages – stress for Michelin in Spain
In November Michelin announced it would lay off 176 workers at two Spanish plants in response to forecasted weak demand, and this month it will – albeit for an entirely different reason – halt production at four facilities within the country for a two-day period.
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Yokohama introduces ‘superbly quiet’ Advan dB V553 tyre
On boxing day 2023, The Yokohama Rubber Co., Ltd. introduced what it calls a “superbly quiet” tyre. According to Yokohama, the new Advan dB V553 will be able to maintain it low-noise properties through out the tyre’s life.
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Ikon Tyres to complete Nokian rebranding by Spring 2024
Russian motorists can still purchase Nokian tyres, but the brand’s days are numbered in this market. After energy company Tatneft acquired Nokian Tyres’ local assets, it renamed the operation Ikon Tyres and began producing tyres under the Ikon name in June 2023. Ikon Tyres says the process of updating tyre sidewall moulds has taken several months, but it started the volume production of rebranded summer tyres in December. This means that all products that dealers sell from Spring 2024 will carry the Ikon name instead of Nokian.
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Sailun Group the first Chinese tyremaker to join UN Global Compact
Sailun Group officially began participation in the United Nations Global Compact (UNGC) as of 15 December 2023. According to the company, the move means the Sailun Group becomes the first Chinese tyre company to join UNGC, embarking on a journey with businesses of global impact to contribute to a sustainable future.
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Hankook takeover bid fails
Christmas is a time of togetherness with kinsfolk, but not if you’re a member of Hankook’s Cho family. On December 25, efforts by private equity firm MBK Partners – in collaboration with three Cho siblings – to acquire a controlling stake in Hankook & Company failed after MBK’s tender offer secured insufficient subscriptions.
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Cordiant takes on former Bridgestone tyre plant in Russia
Russian tyre maker Cordiant JSC, since May 2023 a S8 Capital business, has taken 99.9 per cent of Ulyanovsk-based tyre production business Bridgestone Tire Manufacturing CIS LLC operation under its control. The remaining 0.1 per cent is now managed by S8 Industrial Assets LLC, an affiliate of S8 Capital.
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