Jinyu Tire to focus again on car tire segment with Vietnam expansion

Qingdao, Shandong – Chinese tire maker Jinyu Tire Group has broken ground on an expansion project to add passenger car and light truck (PLT) tire production in Vietnam.

At a ceremony 12 Dec 2023, the tire maker said it would expand its facility in Tay Ninh province, Vietnam through three phases, with the first PLT tires set to be rolled out in 2025.

The Chinese manufacturer did not provide details about the cost or size of the plant or the design capacity of the expansion project.

The project is an expansion of Jinyu (Vietnam) Tire Co. which started production in 2021 and has the capacity to manufacture 2 million units of truck & bus radial (TBR) tires a year.

The Shandong-based manufacturer said it had suspended its PLT operations over the past five years, to “focus on the development of TBR tires”.

In the TBR segment, it went on to say, the group has made “significant progress in quality, production capacity, and market requirements.”

“Now the time is right to restart the PLT business and Jinyu has set ambitious goals and expectations to bring to the market excellent quality PLT products,” it said.

The company went to state that it would provide “the right products, the right programmes, and at the right price.”

“Jinyu's restart of the PLT business was a rational choice after careful consideration,” commented Chang Xianxu, chairman of Jinyu Tire Group.

The project, he said, is in response to market demand, and will create “sustainable market competitive advantages.”

Furthermore, the move is part of the group’s strategy to enhance development and product structure.

Jinyu Tire has targeted mainstream demand in European and American markets for the first phase of the project.

The new facility, it claimed, will compete with world-class tire makers in terms of “product design, quality standards, process layout, equipment CNC and intelligent logistics.”

In sustainability terms, the facility will look to reduce carbon emissions through “green and intelligent manufacturing processes” while promoting local employment strategies.