BINH DUONG, Vietnam — Kumho Tire Co. Inc. is planning to invest $300 million over the coming couple of years to expand production capacity at its 16-year-old factory in Binh Duong province by 36%, according to a report by the provincial Binh Duong government.
Operational since 2008 in My Phuoc 3 Industrial Park, the plant has a rated annual capacity of 12.5 million car and light truck tires, following an expansion project begun in 2021.
The South Korean tire maker signaled the investment plan during a meeting with the local authorities, the Binh Duong provincial government reported Nov. 13.
According to the report, Kumho has requested support from the authorities in handling routine processes as well as in land acquisition for further expansion.
Kumho Tire U.S.A. Inc. sources some of its supply for North America from the the Binh Duong factory.
