Continental plans to double investment at Hefei plant in China to boost tyre production
Plan to increase production of passenger-car tyres at the plant to some 14 million upa, up from the current 5 million.
German tyremaker Continental is planning to double its investment at its Hefei plant in China to boost its tyre production in the country, according to a report by Reuters News. Nikolai Setzer, a member of executive board and a top chief at the company's tyre division, reportedly revealed in a statement that Continental reached an agreement with the Hefei provincial government during late April to invest EUR250 million (USD275.5 million) at its Hefei plant, but now intends to invest another EUR250 million, which increases the total expected investment at the Chinese tyre plant to EUR500 million.
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