Bridgestone to withdraw from commercial tyre business in China

BridgestoneJapanese tyre maker Bridgestone Corporation says it has been strengthening its premium focus in China as part of its “Rebuild Earning Power” initiative, since 2021. In its next three- year plan, the Mid-Term Business Plan (2024-2026), Bridgestone will further intensify this focus and will cease production and sales of truck and bus tyres at Bridgestone (China) Investment Co. and withdraw from the commercial tyre business in Chinese market.

Moving forward, strategic resources will be directed to the premium tyre market for passenger vehicles, where growth is anticipated, leveraging Bridgestone’s strengths to “reinforce earning power.”

It adds that Bridgestone China “has been vigorously undergoing business restructuring to enhance its premium focus, and after carefully considering factors such as market dynamics and competitive advantage, and it has decided to cease production and sales of truck and bus tyres”.

Located in Shanghai, it was established in 2004 and had 398 employees: 398 as of the end of January 2024.

Meanwhile, Bridgestone (Shenyang) Tire Co is located in Shenyang city, Liaoning Province, and was established in 1996. It has a production capacity of around 4,300 truck and bus radial tyres/day.