Tag: China

Chinese car production to reach 29.7 million by 2020

Chinese car production to reach 29.7 million by 2020

Tuesday 20th June 2017 | 0 Comments

A new report based on International Organization of Motor Vehicle Manufacturers and a ReportLinker algorithm and analysts forecasts that new passenger car sales in China should reach 29.7 million units a year by 2020. This means that between 2017 and 2020, new car sales in that nation will maintain an annualized growth rate (CAGR) of 7.06 per cent. That rate of growth is slower than it has been in recent years up until now, but it remains a sustainable one.

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ZC Rubber, Bekaert sign strategic cooperation agreement

ZC Rubber, Bekaert sign strategic cooperation agreement

Monday 5th June 2017 | 0 Comments

ZC Rubber has signed a strategic cooperation agreement with Bekaert, the global top steel cord supplier. The new arrangement will focus on the development of steel cord on green tyre.

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Linglong’s ‘surprisingly good’ TestWorld test results

Linglong’s ‘surprisingly good’ TestWorld test results

Wednesday 31st May 2017 | 0 Comments

Linglong recently came out as the leading Chinese brand in a respected tyre test. The recent 2017 Test World summer tyre test, which was conducted by the Finnish Test World team in France, tested 17 tyre products against each other. Linglong Tire won a total score of 8.3 points in the test, ranking in first place among the five Chinese brands involved.

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Linglong considering European factory

Tuesday 30th May 2017 | 0 Comments

Shandong province, China-based Linglong Tires is considering a European factory. In the wake of media reports, Tyres & Accessories spoke with company representatives and learnt that a number of locations in both Eastern and Western Europe are being considered.

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Landsail claims to being driving innovation in UHP sector

Landsail claims to being driving innovation in UHP sector

Tuesday 16th May 2017 | 0 Comments

Landsail claims to be leading its particular market segment in ultra high performance tyres with its LS588 pattern. Designed and manufactured in an Industry 4.0 production facility, smart manufacturing means Landsail can deliver quality and performance at a price that’s never been possible before.

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ZC Rubber to build R&D centre for green tyre material with Ningbo Institute

ZC Rubber to build R&D centre for green tyre material with Ningbo Institute

Friday 12th May 2017 | 0 Comments

ZC Rubber and Ningbo Institute of Materials Technology & Engineering, Chinese Academy of Sciences have announced their new Research & Development centre for rubber and novel environmental-friendly green materials. According to China’s largest tyre manufacturer, the centre will focus on the development on the rubber and materials for smart production, new energy and green material.

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Re-globalisation of the international tyre market?

Re-globalisation of the international tyre market?

Thursday 4th May 2017 | 0 Comments

In the last few weeks, Apollo has initiated production at its new Hungary tyre factory and launched a brand new European truck tyre range (see Company News section pages 32 – 24); Doublestar has confirmed that it is the only remaining bidder in the race for 42 per cent of Kumho Tire (see pages 36 - 37); and as we went to press, Finnish tyre maker Nokian announced that it will build its third production plant, this time in the USA. All this points to what we might call a re-globalisation trend. Rather than businesses from the large so-called developed nations expanding around the globe, this second wave of international expansion sees the roles reversing to some extent. While before the Western nations were looking to invest in fast-growing “emerging” economies, now the proverbial shoe is on the other foot and large companies in what used to be called the BRIC nations are investing in more developed tyre markets.

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Doublestar the only bidder left to buy Kumho

Doublestar the only bidder left to buy Kumho

Friday 28th April 2017 | 0 Comments

Speaking off the record, Chinese executives within Qingdao Doublestar have confirmed the company’s intentions to purchase well-known South Korean tyre manufacturer Kumho Tyre and that it is “now only Doublestar left to buy Kumho”. However, at roughly the same time, Korean newspapers have been reporting that Doublestar probably won’t have the right to use the Kumho brand name post-acquisition. With all this in mind, Tyres & Accessories summaries the story so far.

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Sailun Jinyu anticipates RMB 50 million loss in Q1 2017

Thursday 27th April 2017 | 0 Comments

The bottom line at China’s Sailun Jinyu Group Co Ltd took a hit in the first quarter of 2017. According to preliminary statistics provided by its financial department, the tyre maker anticipates a net loss attributable to shareholders in the vicinity of RMB 50 million (-£5.65 million). In the same three-month period a year earlier, the company reported a net profit of RMB 95.16 million (£10.76 million).

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Global ambitions: Wanli Tire launches ‘F Plan’

Global ambitions: Wanli Tire launches ‘F Plan’

Wednesday 26th April 2017 | 0 Comments

China’s Wanli Tire aims to compete on even terms with the established tyre majors, and the tyre maker has its eye on a spot in the global ‘top ten’. The company’s path to international success will be guided by a new strategy that Wanli Tire general manager, Li Xiaoyun, outlined at Auto Shanghai.

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Chinese market launch for Atlas tyre brand

Chinese market launch for Atlas tyre brand

Wednesday 26th April 2017 | 0 Comments

An announcement made by Shandong Linglong Tire at the Auto Shanghai show marks the introduction of a long-established US tyre brand into the Chinese market. At a press conference held on 22 April, company chairman and president Wang Feng welcomed the Atlas brand to China. The launch portfolio consists of seven passenger car and SUV product lines.

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Shandong Linglong Tire: Net income up 49% in 2016

Wednesday 26th April 2017 | 0 Comments

Shandong Linglong Tire Co Ltd has reported increased sales and profits for 2016. In its 2016 Annual Report, the Chinese tyre maker declares net sales of RMB 10.5 billion last year (£1.2 billion), a 20.4 per cent increase from 2015 and a record high. Operating income rose 32.3 per cent to RMB 1.1 billion (£124.7 million) and net income was up 49.0 per cent to RMB 1.0 billion (£113.4 million).

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Triangle Tire net profit down 2.6% in Q1 2017

Monday 24th April 2017 | 0 Comments

Despite a 36.3 per cent increase in operating income to RMB 2.2 billion (£249.4 million) in the first quarter of 2017, Triangle Tire reports that its year-on-year net profit declined 2.6 per cent in the first three months of the year to RMB 156.9 million (£17.8 million).

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Continental to continue investing in China

Continental to continue investing in China

Friday 21st April 2017 | 0 Comments

During the Continental AG press conference at the Auto Shanghai show in China, chief executive officer Dr Elmar Degenhart confirmed that the company intends to continue investing in China “at a comparable level” to recent years. Continental has invested €1.3 billion in the country over the past half a decade. Degenhart also commented that Continental anticipates its sales will grow at a faster rate than the market in China, particularly in the field of mobility services.

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Continental enters mobility services JV in China

Thursday 20th April 2017 | 0 Comments

In order to increase its activities in the new mobility services market, Continental has signed a strategic joint venture contract with China Unicom Smart Connection (CUSC), an end-to-end service and operations provider for the connected car market and fully owned subsidiary of mobile network operator China Unicom. The contract was signed on 19 April and creates a joint venture that, in Continental’s words, “aims to establish and operate as a world class ITS solution provider to satisfy the increasing market demands in China.”

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