Guizhou Tyre, the state-controlled Chinese tire manufacturer, has made significant progress in its plans to establish a new manufacturing facility in Morocco. After months of anticipation, the company has successfully completed all necessary Chinese approval and registration procedures, paving the way for construction to commence. Reports from our British sister publication, Tyres & Accessories, indicate that Guizhou Tyre is eager to initiate the construction of the passenger car tire plant as soon as possible.
The proposed factory, which will be located in Tangier, close to the Strait of Gibraltar, is expected to produce approximately six million passenger car tires annually upon the completion of its first expansion phase. To bring this ambitious project to life, Guizhou Tyre plans to invest a substantial $298.7 million (equivalent to €255.3 million). This investment underscores the company's commitment to enhancing its presence in the European market, where it is already recognized for its brands, including Advance, Samson, and Tornado.
As reported by reifenpresse.de.
