BEIJING—Bridgestone Corp. is stepping up its investment in China with a focus on increasing production of passenger car tires equipped with the group's Enliten technology.
Bridgestone (China) Investment aims to invest a total of $77 million (Yuan 562 million) over the next three years across locations in China.
At the heart of the initiative is a $26 million investment at Bridgestone's Wuxi production plant, the group said in an April 8 statement.
For 2024, the target is to expand the production capacity of high-end passenger car tires and help the Wuxi unit achieve "comprehensive improvement and development." Once upgraded, the factory's production of tires using Enliten technology will increase, enabling increased use of sustainable materials and new mixing processes.
In addition to lowering materials-consumption, Enliten tires improve tire wear performance and extend tire service life, according to Bridgestone.
At the same time, the Wuxi factory will add a tire production line equipped with B-Silent silent cotton technology with an annual capacity of 2 million units per year.
This investment, Bridgestone said, aims to meet the needs of Chinese consumers for a quiet and comfortable driving environment.
The Japan-based group added that it had increased the specifications of its large-rim tires to 21", as part of a process to adapt to changes in the Chinese tire market.
The investment involves adding one new internal mixer and replacing 32 vulcanizing machines at the site to support new energy vehicles.
In addition to the investment in Wuxi, Bridgestone said it had increased investment in its Tianjin tire facility.
The group aims to invest $7.6 million to transform the equipment in the existing factory area with plans to complete the construction and put into production in August 2025.
According to Agustin Pedroni, general manager and CEO of Bridgestone (China) Investment, the projects are part of the group's mid-term management plan to enhance profitability.
"To achieve the 'real next stage,' our strategic resources will focus on China's high-end passenger car tire market with greater growth potential," Pedroni said, adding that Bridgestone is "optimistic" about expanding its position in the growing high-end passenger car market in China.
"We will continue to deepen our efforts and focus on developing our advantages and competitiveness in these segments," Pedroni concluded.
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