It is reported that Michelin plans to invest 300 million euros (about 2.338 billion yuan) in Thailand in the next three years to increase production capacity.
Michelin has so far invested more than 1 billion euros in Thailand, with five factories and 8,000 workers.
Michelin Thailand is headquartered in Bangkok, which is not onlyMichelin the headquarters of Thailand, but also the headquarters of the E2A region (East Asia and Australia, including Japan and Korea). All of the company's teams are here, from purchasing to sales and marketing.
Michelin Siam Limited (Rayong), located in Bangkai, Rayong Province. Production of wire rope for export to other factories.
Michelin Siam Limited (Nongkhae) is located at the Hemaraj Saraburi industrial site in Salaburi Province and mainly produces trucks and buses, aircraft and retreaded tires.
Michelin Siam Limited (Phra Pradaeng) is located in Samut Prakan province and produces tires for cars, motorcycles and large bicycles.
Michelin Siam Limited (Lim Chabang) is located in the Lim Chabang Industrial Zone, Chukburi Province. The main production of passenger car tires.
It was not immediately clear which plant's capacity would be affected by the investment.
In addition to Michelin, Thailand as a popular area for Chinese tires to build overseas factories, including Zhongice, Linglong, double coin, Pulin Chengshan, Senkirin, General Shares and other leading enterprises have opened factories here.
At the same time, in 2024, there are a number of tire companies in Thailand. According to Thai media reports, the Thai Rubber Management Committee plans to launch the "Thai Tyre (Thai tire)" tire production project in May this year, and is currently accelerating negotiations with Leitong Tire Company (Deestone) and China tire factory to promote the production of the first phase of the project.
In January 2024, Donghao Tire announced plans to build a factory in Thailand, saying that it will accelerate the construction of Thailand's "Aibes" production base.
In addition, with the continuous growth of overseas markets, in 2023, China Tire Thailand factory ushered in a wave of expansion.
According to Pulin Chengshan's 2023 semi-annual report, the company launched the third phase of the Thai tire production base project in the second half of 2023, specifically for an annual output of 2 million TBR tires project.
After the completion of the third phase of the total project, the annual output of 10 million PCR tires and 2 million TBR tires is expected to be 2,500 employees.
In August 2023, General Stock announced that General Rubber (Thailand) Co., LTD., a wholly-owned subsidiary of the company, intends to invest 1.884 billion yuan in Thailand's high-performance radial tire expansion project, with a capacity of 6 million PCR tires and 500,000 TBR tires.
After the completion of the project, it is expected to increase the average annual operating income of 2.130 billion yuan, the average annual net profit of 373 million yuan, and the after-tax financial internal rate of return of the project is 18.48%.
In addition, tire upstream enterprises what shares, Junfan Industry Co., LTD., Hommai Group, Xingda steel cord and other enterprises have also invested in expanding production in recent years, it can be said that China's tire industry chain in Thailand has been further improved.
