The Saudi Arabian Public Investment Fund (PIF) and Pirelli Tyre S.P.A signed a joint venture (JV) agreement to build a tyre factory in Saudi Arabia. PIF will hold a 75 per cent stake in the JV with Pirelli holding the remaining 25 per cent and acting as “a strategic technology partner” offering both “technical and commercial assistance”. The plant is expected to start production in 2026.
On 21 October, Sentury said it had officially started constructing its tyre factory in Morocco. On 25 October, the tyremaker said it would add $193 million to its Morocco plant for 6 million semi-radial tyre production capacity. Sentury classified the additional investment as the second phase of the Moroccan tyre factory project. In other words, the total investment in Sentury’s Morocco factory has become US$490 million. After both projects are put into production, it will be able to produce 12 million semi-steel radial tyres annually.
Tyrepress China has learned that the second phase of the Pakistan tyre factory Service Long March (SLM) will be completed and put into production before the end of 2024. The factory is a joint venture between Chaoyang Long March and Pakistan-based Service Industries Limited. Information shows that the total investment in the SLM factory is US$250 million, with Chaoyang Long March accounting for 44 per cent.
moveero runs two manufacturing plants in Europe and four in the US, backed by “market-leading plants at Armstrong and Estherville in Iowa and at Wichita, as well as a Research, Development and Testing Center at Woodridge”. Around 18 months ago, the company went through a period of “quite dramatic and rapid change”. Along with a new business name, moveero also introduced a new mission and vision, all of which marked the start of a new chapter in its evolution. Now, work is underway on a new, fully automated weld cell at the company’s Estherville wheel plant, as a result of which, the company will double its production capacity of large wheels, up to 50” diameter for the agriculture sector.
More zero emission trucks are set to drive on UK roads thanks to a £200 million boost to decarbonise freight vehicles, drive innovation and create new jobs as part of a week of Government action to support the sector.
One in every five new vehicles on South African roads runs on Dunlop tyres and the Sumitomo Rubber South Africa production facility in Ladysmith supplies original equipment tyres to Toyota, Nissan, Isuzu, Hino, Tata, Scania and UD Trucks. Backed by parent company Sumitomo Rubber Industries, the local subsidiary has announced a “multi-billion rand investment project” to meet demand from OEMs.
Roads Minister Richard Holden has confirmed allocations for 64 local authorities across England from the £80 million investment in the Bus Service Improvement Plan+ (BSIP+) for 2024-25. Local authorities can use the funding to improve local buses by bringing in new services or routes, extending timetables through new morning or evening buses, or by making tickets cheaper.
Neptune Holding Company, a Cameroonian owned enterprise, is leading a bid to build the country’s first tyre factory in Bomono, near the city of Douala. The Cameroon Tires Factory (CTF) project, as it is known, expects to create 2000 and 2500 direct jobs plus as many as 5000 indirect jobs and is being planned in conjunction with Black Donuts.
Rolling Plus Chemical Industries Co. has committed €1 billion ($1.07 billion) of investment in a new tyre factory in Egypt. The investment is based on a contract signed between Rolling Plus Suez Canal Economic Zone. Egyptian Prime Minister Mustafa Madbouly attended the contract signing ceremony.
SGL Carbon and Brembo have agreed to expand production capacities for their Brembo SGL Carbon Ceramic Brakes (BSCCB) joint venture. After months working on the details, the two companies have confirmed that BSCCB will invest around €150 million between now and 2027 to expand production capacity at sites in Meitingen (Germany) and Stezzano (Italy) by more than 70 per cent.
Oxford will remain the home of Mini thanks to a BMW Group investment of more than £600 million in the Mini manufacturing plant at Oxford and body-pressing facility in Swindon. The Department for Business and Trade says this news follows “extensive government engagement and support.”
In his first European public appearance as president and COO of automotive technology supplier Denso, Shinnosuke Hayashi revealed that the business plans to invest €63 billion in R&D over the next ten years in line with its pursuit of zero emissions and zero traffic fatalities within mobility and society.
Chinese manufacturer Guizhou Tyre released its semi-annual report on 22 August, providing progress updates about the production facilities it is currently building at home and overseas. The company also reported revenue of RMB 4.44 billion (£482.6 million, US$611.2 million) for the first half of 2023 and profit of RMB 340 million (£37.0 million, $46.8 million).
On the afternoon of 17 August, Yu Aihua, Party Secretary of Hefei City, Anhui Province, held talks with Christian Kötz, Head of the Continental Tyres division. Tyrepress China learned that Yu and Kötz talked about “accelerating the construction of the fourth phase of the (Hefei factory) project” and planning the follow-up “automotive electronics, R&D centre project”.
In May this year, China’s environmental protection department imposed a penalty on the Cooper Kunshan factory, restricting production on the grounds of violating the “Air Pollution Prevention and Control Law”. At the same time, the tyre manufacturing base was fined 240,000 yuan.