中国轮胎企业加速海外扩张

Amid the reshaping of the global tire market landscape, Chinese tire companies are making remarkable progress in overseas expansion! Recently, companies such as Haohua, Zhengdao, and Formax have achieved significant advancements in overseas projects, ranging from substantial investments in Vietnamese factories to accelerating the establishment of bases in Cambodia.

This demonstrates the strong momentum of Chinese tire companies upgrading from "product export" to "capacity export," becoming a notable benchmark for counter-cyclical breakthroughs in the industry.

Major investment! Haohua's Vietnam factory will expand production by 2.776 billion yuan, with a capacity exceeding 24 million tires.

On February 5, important news emerged at the Foreign Direct Investment (FDI) business conference held in Dong Nai Province, Vietnam. Three foreign investment projects received registration certificates, among which Haohua (Vietnam) Co., Ltd., a subsidiary of China's Haohua Group, successfully obtained approval for an additional investment of $400 million (approximately 2.776 billion yuan), becoming the focus of the event.

According to reports, after this capital increase, the total registered capital of Haohua's Vietnam factory will soar to $900 million (approximately 6.246 billion yuan). This move is not only an important step in the company's overseas expansion but also a vivid example of Chinese tire companies optimizing global capacity and seizing international markets. Notably, the Dong Nai provincial government completed all capital increase procedures in less than 24 hours, reflecting the high recognition and support of Chinese investment by the local government.

According to the plan, the newly added 2.776 billion yuan will be fully used for the second phase of the factory's construction. Upon project completion, the annual tire production is expected to increase by 10 million units, bringing the factory's total annual capacity to 24.4 million units, with annual sales revenue projected to approach $679 million, achieving a dual leap in capacity and efficiency.

Multiple expansions! Zhengdao and Formax expand to Cambodia, writing a new chapter in overseas factory construction with "China speed."

The luxurious capital increase and capacity expansion are just one example of Chinese tire companies' overseas expansion strategies. Currently, against the backdrop of global tire industry pressures and escalating trade barriers, Chinese tire companies are accelerating their overseas expansion, with Cambodia becoming a key strategic location. Both Zhengdao Tire and Formax Tire have reported significant successes.

On January 19 local time, Zhengdao Tire's second-phase project in Cambodia reached an important milestone—the completion of raft foundation concrete construction for the raw tire warehouse. This marks the smooth completion of the project's foundational engineering, clearing obstacles for the subsequent installation of intelligent warehousing and sorting equipment, while showcasing the efficiency and strength of Chinese enterprises in overseas construction.

Behind this impressive construction progress lies the company's strong resilience. Data from the 2025 year-end meeting shows that despite widespread industry pressure, Zhengdao Tire defied the trend, achieving a year-on-year increase of 25.3% in sales of all-steel radial tires (TBR), a 59.6% growth in foreign trade exports, and a steady 16.2% growth in sales at its East China factory. All of this is inseparable from the continuous implementation of its "overseas factory construction + global layout" strategy.

Formax Tire has also made progress in Cambodia, showcasing an astonishing "China speed" in its overseas expansion. On September 26, 2025, the first tire from Formax Tire's Cambodia factory officially rolled off the production line, marking the official commissioning of its overseas manufacturing base.

This modern factory, with a total investment of $190 million, broke ground in April 2024. It took only 17 months from blueprint to commissioning, setting a new record for the construction speed of overseas tire factories.

The factory is designed with an annual production capacity of 8 million semi-steel radial tires and 1.2 million all-steel radial tires. The project team overcame challenges such as Cambodia's hot and rainy climate and technical obstacles in cross-border equipment debugging, adhering to high construction standards, and ultimately achieving full production line operation.

After the factory's commissioning, it will not only shorten the logistics radius for delivering products to Southeast Asia, Europe, and the United States but also leverage local resource advantages to reduce production costs, laying a solid foundation for Formax to expand into mid-to-high-end overseas markets.

Industrial upgrade! The overseas expansion of Chinese tire companies has entered a deeper stage of large-scale and strategic development.

From Haohua's increased investment and capacity expansion in its Vietnam factory to Zhengdao and Formax's accelerated layout in Cambodia, the overseas layout of Chinese tire companies exhibits distinct characteristics of "multi-base, high-speed, and wide coverage." According to Zhuochuang Information statistics, by the end of 2025, more than 20 Chinese tire companies will have established over 40 factories in 14 countries worldwide, forming a pattern of "dual overseas bases" or even "multiple overseas bases."

Industry insiders indicate that the overseas layout of Chinese tire companies has long surpassed mere capacity expansion and is transitioning towards the optimized allocation of global resources, upgrading from "selling products" to the comprehensive export of "capacity + brand + technology."

The implementation and advancement of these overseas projects not only promote local employment and economic development, providing an important platform for Chinese tire brands to go global, but also drive "Made in China" to achieve a leap from "scale-driven success" to "value-driven breakthroughs" in the global tire market.

As more and more Chinese tire companies accelerate their overseas expansion, Southeast Asia, Africa, and South America have become new hotspots. It is believed that in the near future, with strong production capacity and advanced technology, Chinese tires will write an even more brilliant "China chapter" in the global market.