Shanghai, July 23 (Gasgoo.com) Zhengxin Tire (Taiwan) International Group Co. Ltd. is set to build a new plant in mainland China's southwestern Chongqing municipality, local media reported.
The new plant with a total investment of $1 billion will be able to manufacture 10 million radial tires every year, with the annual output value to reach 9 billion yuan.
The Chongqing plant, which covers an area of approximately 600,000 square meters, will create 7000 jobs when completed and be put into operation in June next year.
Zhengxin has established close relationships with Changan Ford, Shanghai GM, Dongfeng Nissan, Beijing Auto and other major carmakers in the mainland.
In the future, Chongqing plant will supply Changan Ford first and then produce other products Zhengxin has specially designed for the Mainland market including the Maxxis tires and the other famous brand products.
Reportedly, Zhengxin Tire visited Chongqing for seven times before signing the agreement with the local government on March 3 this year. The Chongqing plant will become the company's largest production base in the mainland.
Taiwan's top tire maker to build plant in Chongqing
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