Industry News

ZC Rubber Opening a New Two Wheeler Tire Plant

Zhongce Rubber Group to start production at its new factory

China: China’s renowned Zhongce Rubber Group Co. Ltd. is about to initiate production at its newest factory established in Anji, Zhejiang Province, to produce two-wheeler tires and tubes.

With an overall investment of about USD620 million, the Zhongce Rubber factory is spread over 9.25 million sq. ft. and is anticipated to produce 40 million electric bicycle tires, 35 million motorcycle tires and 120 million inner tubes. The plant is expected to employ more than 8,000 people, at full capacity.

“The foundation of (this) new factory is a critical step forward in the company’s further development to be a world-class tire manufacturer,” said ZC Rubber President Shen Jinrong, he also added, “Furthermore, ZC Rubber is striving to enhance the competitiveness in the tough marketing by improving the technology, tire performance and thoughtful service.”. He also called the plant, “an important investment for ZC Rubber’s further development in the future”.

According to a recent report published by TechSci Research, “China Tyre Market Forecast & Opportunities, 2020”, the country emerged as one of the leading economies worldwide in terms of GDP growth. The country has grown manifold and emerged as the leading manufacturing hub across the globe. The automotive industry, in particular, has grown at a tremendous pace owing to diverse factors such as increasing disposable income, rising standard of living and automobile export demand. This, in turn, has catalyzed the development of tire market in China in terms of both production as well as sales.

As per TechSci Research, introduction of the new production plant will increase the company’s two wheeler tire production, thus strengthening the output by Zhongce Rubber Group. This is likely to enhance the position of the company in the country’s tire market, leading to an increase in the market share of Zhongce Rubber Group.

Relevant Reports

Global Automotive Fuel Tank Market By Vehicle Type (Passenger Cars, Two-Wheelers and Commercial Vehicles), By Capacity (<15L, 15L-45L, 45L-70L & >70L), By Region, Competition, Forecast & Opportunities,

Automotive | Sep, 2020

Increasing vehicle production and stringent norms imposed by governments towards reducing vehicle weight and lower fuel consumption is driving automotive fuel tank market

Relevant News