Now one of the largest tyre-producing countries in the world, China has an indisputable influence on the direction of global tyre trade. The home of both fast-growing up-and-coming brands as well as a burgeoning domestic market, this tag chronicles China’s involvement with the tyre business.
Recently, Wanli Tire stated that to meet market demand, it plans to carry out a third phase expansion project in the vacant land reserved by its Guangzhou factory. According to the plan, the construction of the expansion project will be divided into two phases, adding a production capacity of 12 million semi-steel radial tyres.
Recently, Michelin CEO Florent Menegaux said in an interview in Shanghai that Michelin’s factory in Shanghai will soon expand production on a large scale.
Recently, the authorities of Henan Province in China established a comprehensive cross-border e-commerce pilot zone in Jiaozuo City. Tyrepress China noted that as a local company in Jiaozuo, Aeolus would be guided to expand its cross-border e-commerce business.
On 7 November, the Shanghai Stock Exchange published the 2023 credit rating report for Qingdao City Construction Investment (Group) Co Ltd. (Qingdao City Investment), the holding company of Qingdao Doublestar and Kumho Tire. Our sister publication Tyrepresschina.com has shared some of the key details contained within the report, which is dated June 2023.
During an earnings presentation held on 8 November, China’s Sentury Tire shared its expectation of selling more than one million original equipment tyres in 2023. The company added that it is focusing on “mid- to high-end” OEMs.
At a conference hosted by VMI Group in Yantai, China last month, the chief executive officer of Black Donuts spoke on why he believes Europe to be an “underutilised opportunity for tyre companies.” Kai Hauvala also shared insights on why Black Donuts believes the European market is an excellent opportunity for foreign tyre manufacturers and why Chinese tyre businesses should consider the region as their next big step.
Another investment for China’s Guizhou Tyre. Only a couple of months after announcing plans to lift its Zhazuo factory’s annual OTR tyre capacity by 380,000 pieces and increase investment in its plant in Vietnam by US$58.08 million, the company says it will also invest RMB 300 million (£33.5 million) in a new solid tyre product at the Zhazuo site.
Tyre manufacturer Hubei Aulice officially listed on the National Equities Exchange and Quotations (NEEQ) and can publicly transfer its shares.
Triangle Tyre has been included on the latest China Construction Machinery Technology list of Prime Suppliers. the latest China Beijing International Construction Machinery, Building Material Machines and Mining Machines Exhibition & Seminar (BICES 2023) took place in Beijing in September, hosting the 2023 China Construction Machinery Technology Innovation Summit & Prime Suppliers 500 Launch Ceremony. Triangle Tyre said its reputation as a construction tyre supplier and innovation capability were key factors in gaining a place on the list.
In the third quarter of 2023, Doublestar’s revenue increased by 11.95 per cent year-on-year to 1.23 billion yuan (approximately £139 million; €159 million). Doublestar specified that its PCR products had achieved profitability from July to September. However, overall, during the reporting period, the tyre manufacturer was still in the red despite an increase in operating income, with a loss of 53.32 million yuan (approximately £6 million; €6.87 million).
In its third quarter, Triangle produced 6.2706 million tyres, sold 6.5204 million tyres, and reported revenue of approximately 2.67 billion yuan (about £300 million; €340 million).
Recently, Guangrao County authorities, Shandong Province, held a press conference and stated that it would launch 10 policies to support the high-quality development of the local rubber tyre industry.
Ahead of the expiry of anti-dumping tariffs on China-produced truck tyres imported into the European Union, on 20 October the European Commission reported receiving a request to review these. The European industry observers our sister title Neue Refeinzeitung (NRZ) spoke to expect a preliminary decision at the beginning of the review. Meanwhile, Chinese market sources told Tyrepress China that the tyre makers at the centre of the case have generally responded “calmly”, having become accustomed to “trade barriers” from Europe. Whatever the current market reaction is, the investigation will be concluded “within 12 months and in any event no later than 15 months from the date of…publication” (20 October 2023), according to the Commission.
It’s solar superlative time. The Goodyear Tire & Rubber Company reports having completed its largest solar panel installation to date. More than 29,700 solar panels now sit upon the rooftop of the tyre maker’s Pulandian factory site in Dalian, China, as well as on adjoining warehouse and office buildings – equipment that Goodyear says will reduce carbon emissions from purchased electricity by 17,000 tonnes annually over 25 years.
GRI CEO, Dr Mahesha Ranasoma, was addressed delegates at the Smithers conference on “Sustainability in Tires” in Shanghai, China. Dr Ranasoma delivered a presentation entitled “The Green Revolution of the Tire Industry: A Deep Dive into ESG Integration,” drawing the attention of industry leaders in attendance. He highlighted GRI’s role in developing sustainable Specialty Tires and green practices, emphasizing the company’s commitment to advancing environmentally conscious solutions.
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