Kumho expanding tire production at Vietnam plant by 36%

Binh Duong, Vietnam – Kumho Tire Vietnam is investing $300 million (€285 million) in its operations in Vietnam to increase production capacity in the country by 36%.

The Korean tire maker signalled the investment plan during a meeting with the local authorities, reported Binh Duong government’s website 13 Nov.

Operational since 2007 in My Phuoc 3 Industrial Park, the plant currently produces 12.5 million units of passenger car and light vehicle tires per year, having undergone an expansion round in 2021.

Phase III, said Kumho Vietnam, will increase production to 17 million units per year and is expected to be put into operation in 2026.

According to the local government, Kumho has requested support from the authorities in handling routine processes as well as in land acquisition for further expansion.