Wanli considering Europe for $1 billion tyre factory investment
Wanli-owner Guangzhou Vanlead Group Co. Ltd. has indefinitely postponed plans to invest US$1 billion in the construction of a tyre factory in South Carolina, USA. Now the company is said to be considering alternative locations including some in Europe.
According to the Chinese TireWorld and US Tire Business websites, Guangzhou Vanlead had proposed building a tyre plant in Orangeburg County, South Carolina. Initial annual production capacity was set at 6 million passenger car tyres, but this was only the first phase of an eight-year plan. The second phase would have doubled the size of the proposed facility.
Local news reports suggest the project is in “neutral” and that South Carolina officials have begun showing other potential clients around the site Wanli was planning to occupy. Meanwhile, Wanli is said to be considering “other locations in Southeast Asia and Middle/Eastern Europe”.