On November 25, Japanese tire manufacturer Bridgestone Corp. has announced a Yen27 billion investment plan to expand production capacity at its Hikone, Tosu, and Tochigi tire manufacturing facilities in Japan.
As one of the fastest growing regions in global tire imports in recent years, the Middle East has attracted widespread attention from the industry. Many tire companies have targeted this market and announced plans to invest in building factories.
In China's tire industry, cycle tires are a powerful presence that cannot be ignored. According to statistics, the number of electric two-wheelers in China reached nearly 400 million by 2023, and the annual compound growth rate of domestic electric two-wheelers sales reached 12.93%.
Kumho Tire Vietnam is investing $300 million to expand its operations in Vietnam to increase its production capacity in the country by 36%, according to local media reports. The company announced the investment plan at a meeting with the local government.
Recently, the highly anticipated Yokohama Zhejiang Qiantang Smart Factory Project has successfully completed the second environmental impact assessment publicity, which means that the construction pace of the project will be further accelerated. According to the project plan, the new factory located in Qiantang, Zhejiang is expected to officially start construction in the fourth quarter of this year.
Recently, in the complex and ever-changing international market environment, a number of internationally renowned tire companies released their performance results for the first three quarters and their expectations for the full year.
Mexico's tire industry is developing rapidly, and the country is becoming one of the top five tire manufacturing countries in the world.
In recent years, while tire manufacturers have been going overseas to build factories, upstream companies have also started to expand overseas at a rapid pace, including Daye Shares latest announcement of a factory construction plan in Morocco, and Himile Mold, Mesnac, Yanggu Huatai and others have all increased their overseas investments to keep pace with the tire companies.
Based on the technical accumulation of the Michelin Pilot Sport Cup 2R series, Michelin has exclusively customized tires with the K1 original mark for the Ferrari F80 supercar.