The first tyre has emerged from the new production line at Double Coin’s expanded facility in Anhui, China, marking a significant step forward for the tyre manufacturer. The inaugural products are specifically designed for new energy vehicles, with dimensions of 205/60 R16 92V. This development is part of a broader expansion strategy that, upon full operational capacity, will boost the annual output of the Anhui factory to over 10 million units.
Industry insights reveal that further expansion is on the horizon for the Anhui site, with plans to increase production capacity to more than 25 million tyres annually. This ambitious growth targets not only underline Double Coin's commitment to scaling operations but also highlight the company's strategic focus on innovation and market expansion.
The Anhui facility, primarily a PCR (Passenger Car Radial) tyre production base, holds a significant position within Double Coin’s portfolio, the company owning a 66.1 per cent stake. Despite facing financial challenges with consecutive annual losses in 2021 and 2022 — totalling approximately £7.36 million and £3.14 million respectively — the move towards increased production capacity signals a positive outlook for recovery and profitability.
As the automotive industry continues to pivot towards sustainable and energy-efficient solutions, Double Coin’s focus on tyres for new energy vehicles positions it favourably within the competitive market. The expansion not only serves to bolster production capabilities but also enhances the company’s ability to meet the evolving demands of modern transportation.
This strategic expansion at the Anhui factory is set against a backdrop of global shifts in automotive manufacturing, with a clear focus on sustainability and innovation. As Double Coin navigates through its financial recovery, the increased capacity and specialised product focus are expected to play crucial roles in stabilising and then advancing the company’s market position.
