Bridgestone Investment Co., Ltd. recently announced plans to increase investment in China, with a total of approximately 562 million RMB expected to be invested over the next 3 years. The investment will focus on enhancing production facilities and increasing the proportion of high-performance passenger car tire production to better meet the diverse needs of the Chinese consumer market and provide high-end, diversified products and services.
Bridgestone Group plans to invest $26 million in Bridgestone Tire Co., Ltd. in 2024 to expand high-end passenger tire production capacity and help the factory achieve comprehensive improvement and development. The upgraded factory will increase the production of tires using ENLITEN™ technology, aiming to apply the unique recyclable materials and new mixing process of ENLITEN™ technology to more tire products, improve tire wear performance, extend tire life, increase vehicle mileage, achieve resource savings, reduce carbon emissions, and contribute to Bridgestone’s sustainable development goals. Additionally, to meet the demand of Chinese consumers for a quiet and comfortable driving environment, the factory will also increase tire production lines equipped with B-SILENT noise reduction technology, with an expected annual tire production of 2 million units.
To meet the changing demands of the Chinese tire market and speed up the localization process, Bridgestone Tire Co., Ltd. will increase the wheel diameter of its tires to 21 inches, aiming to provide consumers with a more efficient and convenient experience by shifting to local production instead of imports. In addition to Bridgestone Tire Co., Ltd., Bridgestone Group is also increasing its investment in the company. By the end of 2023, Bridgestone Tire Co., Ltd. plans to invest 54.73 million RMB to upgrade equipment in the existing factory area, with completion scheduled for August 2025. Augustin Pedroni, General Manager and CEO of Bridgestone Investment Co., Ltd., said: “Bridgestone has always been confident in the Chinese market. As outlined in the group’s mid-term business development plan released in March, to achieve the goal of ‘enhancing profitability’ and reaching the ‘next true stage,’ our strategic resources will focus on the high-end passenger car tire market in China with greater growth potential, leveraging Bridgestone’s strengths to ‘enhance profitability.’ We are optimistic about the continuously growing high-end passenger car market in China and will continue to deepen our presence, focusing on developing our strengths and competitiveness in these specific areas.” In the future, Bridgestone Group will continue to uphold its corporate mission of “contributing to society with excellent quality,” further increasing investments in China. By optimizing production layout and business portfolio, enhancing operational efficiency, Bridgestone aims to consistently provide Chinese consumers with a safe and reassuring travel experience.