5X strategic plan Jiangsu General’s rise

In early September 2023, Jiangsu General appeared at The 18th China International Tire Expo (CITExpo 2023) at the Shanghai World Expo Exhibition & Convention Centre. At the exhibition site, the staff of the tyre manufacturer told us that most of the customers they received this time were from Europe, the Middle East, Southeast Asia, Russia and South America.

As a tire company that has developed extremely rapidly in recent years, Jiangsu General Motors has built three production bases in China, Thailand and Cambodia, and plans to build a fourth tire factory in Baotou, Inner Mongolia. In 2022, Jiangsu General's annual operating income was 4.12 billion yuan (approximately 460 million pounds; 530 million euros), ranking 34th in the 2022 global tire manufacturer rankings.

We learned that Jiangsu General Motors exhibited KTX816, CAT8, EV1 and other products at CITExpo 2023, covering medium and short-distance heavy-duty tires, engineering tires, agricultural machinery tires, new energy tires, motorcycle tires and other segments.

A Jiangsu GM staff member at the exhibition told us that they had made appointments with about 60 customers before the exhibition. In addition to meeting these customers who have made reservations, Jiangsu GM's overseas sales team also met many new users at CITExpo 2023.

At the CITExpo 2023 site, Jiangsu GM staff told us that unlike the traditional advantageous markets of Chinese tire companies in the Middle East, Southeast Asia and Africa, tire products in the European market are more high-end and the threshold is relatively high. For Jiangsu General Motors, it has always adhered to the mission of "making every tire a high-quality product" in recent years. Jiangsu General plans to make the European market one of its main focus in 2024 and achieve sales of 300,000 all-steel radial tires. As for semi-steel radial tire products, Jiangsu GM staff explained: "Currently, Europe has not set up trade barriers for semi-steel radial tire products. Therefore, it is not cost-effective to sell semi-steel radial tire products from Thai factories to Europe. There is no dedicated production line. Currently, semi-steel radial tire products sold to Europe are basically produced by domestic factories in China."

Article source: Tyrepresschina.com