Chongqing, China – Hankook is planning to add nearly a million units to its annual production capacity for self-sealing passenger car tires at the company's manufacturing plant in Chongqing.
The project has passed environmental impact assessment, the South Korean tire & technology company announced in June.
The €21 million (164 million yuan) facility, covering 2,600 square metres of total area, will be constructed in four phases, according to Hankook.
Phases one to three will each produce 184,800 units annually while phase four will have twice the capacity of the other phases. .
The tire maker plans to start up one phase each year from 2021 to 2024.
The company is also investing €321,000 to expand its speciality rubber production capacity by 350 tonnes annually. The material will be used for the manufacture of the self-sealing tires, it said.
Hankook’s Chongqing site has an annual capacity to produce 900,000 truck and bus tires and 12 million passenger car tires.
The company will lower its production of common passenger car tires of the same sizes as the new project comes on stream, to keep the overall capacity at the same level.