Jinyu restarts its car tyre business

On 12 December 2023, Jinyu Tire Group held a groundbreaking ceremony for the company’s new passenger car and light truck tyre production project in Tay Ninh Province, Vietnam. The project is designed to provide tyre production capacity in three phases. The first phase is expected to reach production by early 2025. This project is an expansion of Jinyu (Vietnam) Tire Co., Ltd., which started in Vietnam in 2020 and produces truck and bus radial tyres (TBR).
For the last five years Jinyu Tire Group has focused on truck tyres after the company suspended its car tyre business. In the interim, Jinui representatives state that they have made “significant progress in quality, production capacity, and market requirements” in relation to truck tyre production.
However, now is said to be “the time is right to restart the PLT business” and Jinyu has set “ambitious goals” to bring an “excellent quality” car tyre range “that consists of the right products, the right programs, and at the right price” to market.
Chang Xianxu, chairman of Jinyu Tire Group, stated at the groundbreaking ceremony that Jinyu’s restart of the PLT business was “a rational choice after careful consideration”. On the one hand, the move is designed to “respond to market demand, enrich the business modules of the entire supply chain partners, and jointly create sustainable market competitive advantages”. On the other hand, it also meets the company’s own development needs.
The strategic sales direction of Jinyu’s car tyre products in the first phase of production will be based on the mainstream demand in the European and American markets, “targeting the global Tier 1 and Tier 2 market”. To meet this goal, the new factory “comprehensively benchmarks against world-class tyre enterprises in terms of product design, quality standards, process layout, equipment CNC, intelligent logistics, etc” according to company representatives.
The new car tyre factory is also designed to reduce carbon emissions through green and intelligent manufacturing processes. In addition, it promotes a “localization” strategy to create new employment opportunities for local society.
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