Some six weeks after the actual start of production at the Haohua Vietnam Co., Ltd tyre factory, company officials hosted national and local dignitaries for the facility’s inauguration on 14 December. During the ceremony, the company shared details about the planned second phase of development at the site.
Cofo is building a manufacturing base in Vietnam with an annual output of 160,000 all-steel radial tyres and 800,000 semi-steel radial tyres. Li Shengfa, the company’s head, revealed in an interview with local media that “choosing to build a factory overseas will improve the supply of domestic and foreign markets to a certain extent, and will also help to absorb advanced technology and experience, to better develop and adapt to overseas markets”.
The third phase of the Guizhou Tyre Vietnam Factory project started on 25 November 2024. Nguyen Van Yong, chairman of the People’s Committee of Tien Giang Province, Vietnam, and Hu Zhongxiong, Secretary of the Guiyang Municipal Party Committee, attended the groundbreaking ceremony. The third phase of the Vietnam tyre manufacturing centre has a designed annual production capacity of 6 million semi-steel radial tyres.
On 25 November, Guizhou Tire held a ceremony to mark the start of work on the third construction phase of its Advance Tyre (Vietnam) Co., Ltd. plant. Local government officials attended the ceremony together with counterparts from China and company management. When complete, the expansion will add 6 million semi-steel radial tyres to the plant’s annual production capacity.
At a meeting with local government officials on 13 November, Kim Hyun Ho, General Director of Kumho Tire Vietnam, informed that the Kumho Tire subsidiary intends to invest US$300 million to increase the plant’s passenger car and light truck tyre production capacity by 4.5 million units a year, to a total annual capacity of 17 million tyres. This 36 per cent capacity increase, phase 3 of expansion at the 2007-opened plant in Binh Duong Province, will bring total investment in the facility to $908 million.
In 2023, Vietnam’s commercial vehicle tyre exports reached a total value of US$1.305 billion. According to research conducted by Research and Markets, with the growth in global tyre market demand in 2024, the cumulative export value of Vietnam’s commercial vehicle tyres had already approached $600 million by May 2024. By 2033, Vietnamese truck tyre exports are expected to reach a value of $3.27 billion, which equates to a compound annual growth rate (CAGR) of 9.8 per cent.
Tyrepress China has learned that Shandong tyre manufacturer Haohua’s Vietnam plant has the production capacity of PCR and TBR. The news follows the start of production at the plant on 28 October 2024. Photos from the scene show that the first tyres off the production line were both PCR and TBR lines.
Earlier in October, Guizhou Tyre reported that phase III of its Vietnam factory project had made new progress, and “all domestic and overseas investment approval and filing procedures have been completed”. As a result, now the tyre manufacturer “will actively promote the construction of the Vietnam phase III project and strive to put it into production as soon as possible”.
Since September, the International Trade Administration Commission of South Africa (ITAC) has launched an investigation into the circumvention of anti-dumping investigations by redirecting tyres from China to Cambodia, Thailand and Vietnam.
During a meeting held today with Vietnam’s Deputy Prime Minister, Tran Luu Quang, Sailun Group confirmed its intention to continue investing in its business within the country. According to Vietnam News Agency, company chairwoman Liu Yanhua said Sailun Group will invest an additional US$200 million in Vietnam in future.
Goodyear has gained two awards at the Asia Responsible Enterprise Awards (AREA) ceremony, held on 28 June 2024 in Ho Chi Minh City, Vietnam. The awards recognise the company’s commitment to sustainable and responsible business practices.
Guizhou Tyre might not be the most familiar name in the business, but the Chinese tyre manufacturer – which is best known by its Advance and Samson brands – is working to change that with the establishment of a European organisation, TUV SUD testing its latest truck tyres, and there’s even talk of investment in a tyre factory outside China and car tyre production.
MESNAC has announced plans to invest in factories in Vietnam and Cambodia. The company’s board of directors has approved two investment plans. The investment in the Vietnam factory amounts to 107 million yuan, and the construction period is about 18 months. The total investment in the Cambodian factory is 27.97 million yuan, and the construction period is 14 months.
The entire Torque Tyres truck and bus radial tyre portfolio is now being manufactured in Vietnam. Announcing the shift of TBR production to this location, Torque Tyres states that the change will benefit members of the Torque Dealer Network by “making products more affordable while maintaining the same high standards of quality” that partners have grown to expect over the past ten years.
Sailun Group has revised the timetable for expanding production at its factory in Vietnam. Instead of commencing operations by March 2024, the tyre maker now intends to add a further three million semi-steel radials, one million all-steel radials and 50,000 tonnes of off-highway tyres to its annual capacities by March 2025.
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