3 Feb 2024
New projects in response to import tariffs and strategies to locate production closer to customers
Capital spending in new tire production capacity and supply-chain capabilities looks set to continue apace in 2024, recent announcements from several major global suppliers indicate. Pressures to avoid punishing import tariffs and locate production closer to customers are among the main driver for investments – as evidenced for example by Sailun Group’s decision to build its first North American tire factory.
Sailun has signed a JV agreement with Mexico’s TD International Holding for the construction of a €220-million tire plant in León, Guanajuato state, Mexico. The project is slated to establish a unit with initial capacity to produce 6 million units of radial passenger car tires (PCRs) a year, said its filing to the Shanghai Stock Exchange
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