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Multinational tire companies compete to expand investment in China

Recently, Continental announced it would invest 500 million euros in Hefei expand production bases, including bicycle and car tire production. In accordance with the relevant plan, to 2019, its passenger car tires in Hefei by the 5 million annual increase to 14 million, bicycle tire production in 2025 increased from the current about 2 million to 13 million. The company's plan is to invest in China in the next five years of about one billion euros.


Not long ago, Bridgestone invested $ 196,000 in Wuxi radial tires completed the second phase expansion project. The project is now an annual output of 2.74 million radial tires, reached an annual output 5.48 million after the expansion project is completed, in which 34.8 million yuan investment in environmental protection, accounting for 2.5% of the total investment.


Recently, Hankook Tire announced the completion of its new brand channel layout agents European front in China. While tires have not found in the online world network Hankook specific investment in China, but Hankook now has a regional headquarters in China, an R & D center and three production bases in 2015, the Chinese market production capacity to 36 million by 2020, overall production capacity of Chinese factories account for more than Hankook Tire's global capacity by 40%. A series of vivid figures show Hankook Tire attaches great importance to the Chinese market.


Expanding plant capacity, while the multinational tire company by increasing the store, or to set up electricity supplier network experience center etc., to strengthen China's strategic layout, and enhance market competitiveness.


    The United States on Chinese tires "dual" ruled landing, Chinese tire exports to the US market would be to impose high tax rates. Just as Chinese tire enterprises export market outlook uneasy, tire World Network noted, multinational tire companies are optimistic about the growth prospects of the Chinese market, competing to increase investment in the Chinese market, and continue to upgrade the China market strategy.


"In fact, Chinese tire enterprises should quickly put their attention to the domestic market. Otherwise, the next fight at the gates of the war, perhaps more than even brutal in the international market." An industry source told reporters.


Upgrade products and technologies


According to industry analysis, strategic change in recent years, multinational tire companies in China, is reflected in the upgrade tire technology and products.


"China still has a lot of tire manufacturers produce tires obsolete. In fact, China is not the lack of tires, there is a lack of high-tech tires." During one interview, senior Michelin (China) Investment Co., Ltd. of the case Say.


"In China, domestic companies on price competition, international companies are relying on technology to compete in the short term, the domestic companies seem to be, but the results of long-term competitiveness must be technical win." A domestic tire company executives exchange with a reporter, bluntly express their own views.


Conform to the development needs of long-term occupation of the Chinese market, multinational tire companies have begun to "high-tech" as the standard, the international community and even the latest generation of advanced technology products to China. As Royal multiply II generation tire Goodyear released in China, it is the quietest in its history luxury car tire, which uses the latest generation of Goodyear "Silent tread" design, is intended to minimize tire noise; Bridgestone is Listed in China released a new generation runflat tire "Chi's", which may, after the loss of tire pressure, still with a certain speed safe driving a certain distance.


In order to allow the introduction of the product more suitable for Chinese market, multinational tire companies also have been set up R & D centers in China, so as to provide better technical support and convenience for the local market. According to incomplete statistics, Michelin, Continental, Goodyear, Bridgestone, Hankook, Kumho and other tire companies, have established R & D centers in China.


Reporters also found a new phenomenon, that some companies no longer as in previous years as China directly to get the product to market, but to China's R & D center fully participate in the development of new products. As Michelin's Shanghai R & D center has been involved in the development of its new green tire EnergyMXV8, and plans for future gradually replace the original old products in China will be a new product; Cooper Tire's new products specifically for the Chinese market but also the localization of R & D design.


Has invested heavily in expansion can


It is understood that transnational tire companies in China, another big move, is competing invested heavily to expand production capacity. Currently, the network has not yet mastered the whole tire world of investment data, but the analysis can be found in various international tire company, which has in recent years to expand production capacity in China's strategies and plans.


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