The Vietnamese factory Haohua produced the first tires

On October 28, Chinese Shandong Haohua Tire celebrated the release of the first tires at its new plant in Vietnam's Binh Phuoc province. The plans for the construction of the plant were announced last year, and in October 2024, the enterprise produced the first tires for both passenger and commercial vehicles.

The total investment in the plant will be around $500 million, and after reaching its design capacity, the enterprise will be able to produce 12 million passenger and 2.4 million commercial tires annually.

Previously, Haohua noted that they planned to launch the new plant only in the third quarter of 2025, however, the release of the first tires means that the company is implementing the project with a significant ahead of schedule. It is expected that the plant will use 120,000 natural and synthetic rubber per year, and last year it was reported that 80% of this type of raw material will be purchased in Vietnam, and the rest in China.

Currently, Haohua is capable of producing around 20 million passenger and 4.8 million commercial tires at its plant in Weifang (China), and the plant's staff consists of about 6,000 people. The company's product range includes the Aplus, Compasal, Haohua, Lanvigator and Royal Black brands, and the products are mainly sold outside of China - exports account for about 75% of sales.

According to the results of 2023, Haohua's turnover was $975 million, which allowed the company to take 32nd place in the ranking of the world's largest tire manufacturers.