German horse brand to invest 1.1 billion to expand production capacity, the two major purposes of the storm

August 06, 2022

The German brand Tire plans to expand its production capacity at the Lousado Tire Factory in Portugal and plans to invest a total of approximately 150 million euros (about 1.1 billion renminbi) by the end of 2018. The purpose of the investment is twofold. One is to increase the production capacity of passenger car tires. At present, the factory has a production capacity of 1,800 passenger car tires per year. The other thing is to increase the capacity of agricultural tires in the factory. At present, the factory mainly produces standard vans and light commercial vehicle tires.
Portugal lousado tire factory
The relevant person in charge of the company's brand tires stated that investment not only represents an increase in total production capacity, but also the most important is the expansion of the production of high-performance tires, and the re-entry into the agricultural tire market. Now that the market is more and more diversified, companies need to have higher production capacity, especially in high-performance tires. Companies must consider how to provide customers with better service on tires larger than 17 inches.
In June last year, the Malay brand invested approximately 50 million euros in the establishment of a agricultural tire production line at the plant and plans to complete a portfolio of agricultural tires in the next three years, with a total of 100 species. In the past few years, the Czech tire manufacturer Mitas has been awarded a Continental Group brand production license to produce agricultural tires. And the company announced the extension of the license period to 2019. However, the mainland group may return its agricultural tires brand early if it returns to the agricultural tire market.
German horse brand tire
The head of Continental Group tires said: Through the investment, Continental Group gives a clear signal that Continental Group will once again become a dynamic and high-quality tire manufacturer in the field of agricultural tires. Continental Group has a good infrastructure and has Energetic and experienced team. The manufacture of sophisticated agricultural radial tire products can meet the country's need for the most advanced agricultural production facilities. At present, global agriculture is undergoing changes, and the ever-increasing world population's demand for crops is increasing day by day. As a result, global demand for agricultural tires is also growing. Mainland China, with its rich experience, will become an outstanding agricultural tire manufacturer.
The Continental Group plans to establish a complete tire market for agricultural tractors and harvesters and will cooperate with major agricultural vehicle manufacturers. Tires including radial tires and skew tires cover approximately 150 tire sizes. In addition to investing in the Lousado Tire Factory in Portugal, the Continental Group will invest 2.5 million Euros to establish a new R&D facility.

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