Joyall increases production volumes

The company Weihai Joyall Tyre, specializing in the production of tires for cargo transport and special equipment, intends to install a new production line at its plant in Weihai (Shandong Province, China) in 2025, with a capacity of approximately 2.2 million tires per year and a cost of around 1.9 billion yuan (260 million dollars).

It is expected that after the project is fully completed, Joyall's revenue will increase by 2.5 billion yuan (340 million dollars) annually, and, as noted by the company's deputy general director, Xiao Jun, the new facilities will allow the company to further expand its connections with customers in the global market, as well as promote the development of the tire industry in China.

Joyall was founded in 2010 and is currently capable of producing around 4.8 million tires per year. It is reported that in recent years, the company has continued to increase its investments in research and development, consistently improving product quality, and, thanks to "flexible and diverse strategies," actively increasing its market share both in China and abroad.

According to the results of the first 11 months of 2024, Joyall's sales grew by 18.7% compared to the same period last year, and the company, as noted, invested significant funds in equipment modernization and process optimization, achieving cost reduction and production efficiency improvement.

The company offers tires under the Joyall, Joyus, and Gianroi brands.