China’s Zhongce Rubber to Build USD145 Million Tire Plant in Vietnam to Boost Global Expansion
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Zhongce Rubber, a major Chinese tire manufacturer, plans to invest USD145 million to build a new tire factory in Ho Chi Minh City, Vietnam. The factory will produce five million semi-steel radial tires annually, targeting markets in the Asia-Pacific region, Europe, and Southeast Asia. Construction starts in July and is expected to generate USD123 million in annual revenue with a 17.5% return on investment. The company aims to expand its international presence, having already established production bases in Thailand, Indonesia, and Mexico. Zhongce's stock price fell 0.7% to CNY49.19 today.
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