Tire giant has new plans

January 31,2024

Japan's Bridgestone Tire is about to disclose an investment plan. The company expects to invest 800 billion yen in the next three years.

This is an increase of 230 billion yen from their investment in the previous three years. It is understood that new investment will be invested in three major areas: electric vehicle tires, mining tires and green tires.

The analysis pointed out that Bridgestone has no intention to participate in the price war, but focuses on the development of high-performance tires.

It will invest more in technology while reducing tire costs. Due to the good profitability of tires in the mining industry, the company intends to increase the production of tires in this field.

It is expected that the new investment plan will be proposed in the mid-term development plan in March.

Currently, Bridgestone holds approximately 14.2% of the tire market share, second only to Michelin.

Preliminary estimates show that the company's sales in 2023 were 202.35 billion yuan, a year-on-year increase of 1%. The annual net profit was 16.3 billion yuan, a year-on-year increase of 12%.

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