Another Chinese company to build a tire plant in Cambodia

Following a number of companies such as Doublestar, General Science, Sailun, Wanli and ZODO, another Chinese tire manufacturer has announced plans to build a plant in Cambodia. The project will be launched by Jiangsu Topower Tyre, with construction scheduled to begin this year, and the plant's capacity will be 200,000 solid tires for special equipment per year.

On March 11, Topower shareholders approved the creation of a new subsidiary, Topower (Cambodia) Co., Ltd., which will produce tires, while another subsidiary, Jadeking Industry Co., Ltd., will be responsible for finding land and building the plant. The total investment amount is quite modest compared to the projects of Chinese tire giants and amounts to $10 million.

Topower was founded in 2012 in Yancheng (Jiangsu, China) and produces solid and belted tires of various categories. The company uses more than 60 patented technologies, and its products are sold in more than 70 countries around the world.

In recent years, the tire industry in Cambodia has been developing rapidly, which is associated with the arrival of investors from China, who, by locating production in the country, eliminate the need to pay additional import duties on tires from China, introduced in various regions of the world. Tire companies are also attracted by the availability of natural rubber and the favorable investment policy of the government.

According to the Council for the Development of Cambodia (CDC), in the first 10 months of 2024, the country approved investment projects worth $5.45 billion, of which $1.005 billion is accounted for by the tire and related industries, which is the highest value among all industries.

In 2024, Cambodia exported car tires worth $870 million, which is 129% more than in 2023.