Guizhou Tyre progresses Vietnam, China expansion projects

Guiyang, China – Chinese tire maker Guizhou Tyre has issued updates on the progress of its ongoing expansion projects in Vietnam and China. 

In Vietnam, the company is “actively" progressing the construction of phase II of its truck and bus tire (TBR) project, Guizhou officials said in a 22 Aug online investors forum.

Launched in 2021, the €153-million project aims to raise the TBR capacity at the Tien Giang plant by 950,000 units per year.

The new production will be in addition to the current nameplate capacity to produce 1.2 million units per year of TBR at the site.

The Vietnamese facility, reported Guizhou, produced 464,300 tires in the first half of this year and achieved revenue of Yuan446.894 million.

Guizhou officials were also asked to comment on the progress of the company's off-road engineering tires project announced in May 2022.

Under construction at the company’s existing plant in Zhazuo, Xiuwen County, the €273-million “intelligent manufacturing” project aims to produce 380,000 all-steel engineering radial tires per year.

The project, said the tire maker 22 Aug, has been divided into two phases.

In phase I, the installation and commissioning of some equipment with an annual production capacity of 200,000 units has been completed.

Small batch trial production is now under way at the facilty, the company also reported.

For the first half of 2023, Guizhou reported a 112% year-on-year increase in profit to Yuan340 million on 12.5% higher sales of Yuan4.5 billion.

Commenting on the results, Guizhou said of its total sales, 33.6% or Yuan1.5 billion, was achieved through exports.

The tire maker is now “actively taking measures” to explore new markets, including by “localising sales staff”.