The New Energy Market: A New Opportunity for China's Tire Industry

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The New Energy Market: A New Opportunity for China's Tire Industry
December 05, 2023

On November 29, the 2023 Eighth Automotive Service Chain Development Forum, hosted by AC Automotive, opened in Shanghai.


Four aftermarket companies, including ZF Aftermarket, Zero Kilometer Group, Tmall Car Maintenance, and Sensata, attended the forum.


Tire World Network, as an invited platform, conducted exclusive interviews with participating companies on the topic of new energy vehicles, which is of significant interest to tire manufacturers.


Jin Zhiqin, General Manager of ZF Aftermarket Greater China, stated that in recent years, the development momentum of new energy vehicles in China has been strong.


He believes that with more than 200 million fuel vehicles still in operation, there is at least another 10 years of cultivation ahead for the industry.


Companies should prepare in advance for electrification and adapt to the development of new energy vehicles.


Li Yi, COO of Xinkangzhong and General Manager of Tmall Car Maintenance, mentioned that the demand for new energy vehicles will be strongest within the next three years.


This period will also present the most obvious market opportunities.


This includes strengthening R&D for high-performance tires, with a focus on developing low-noise and highly durable tire products, as well as creating tire clusters for new energy vehicles in Qingdao, Dongying, Yantai, and Jining.


Tire World Network has learned that Shandong, as a major tire manufacturing province, has always been at the forefront of the industry.Currently, Qingdao's Sailun Group and Senqilin Tires both have established production lines for high-end new energy vehicle tires.


Established firms in Dongying, including Yongsheng Rubber and Huasheng Rubber, have also launched their respective new products dedicated to new energy vehicles.


Linglong Tire from Yantai is now the leading supplier of tires for new energy vehicles in China.


The implementation of these new plans is expected to further promote the development of the tire industry in Shandong.

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