Chinese tyre maker Linglong to invest $1.19 billion in Brazil factory
- By Sharad Matade
- April 28, 2025
China's Shandong Linglong Tire announced plans to invest USD 1.19 billion in a new manufacturing facility in Brazil, marking one of the largest Chinese investments in South America's automotive sector this year.
The project, located in Ponta Grossa in Brazil's southern Paraná state, will be developed through a joint venture with local distributor SUNSET S.A., with Linglong holding a 70 percent stake and the Brazilian partner taking the remaining 30 percent.
Construction is slated to begin in the third quarter of 2025, with full completion expected by the end of 2032 after three construction phases spanning seven years.
The new plant aims to produce 14.7 million tyres annually, including 12 million passenger car radial tyres, 2.4 million truck and bus radial tyres, and smaller volumes of engineering and retreaded tyres. The facility will also manufacture 6,000 tonnes of liquid reclaimed rubber yearly.
Linglong plans to finance the project with USD 600 million in self-funded capital and USD 593 million in bank loans. The facility will include a 35-megawatt solar power plant to support sustainable manufacturing practices.
The investment comes as Brazil's government has been actively courting foreign direct investment through various incentive programmes.
Linglong's venture partner, SUNSET S.A., reported revenue of USD 650 million in 2024 with net assets of USD 200 million, according to the announcement.
The project still requires regulatory approvals from Chinese government bodies, including the National Development and Reform Commission and Ministry of Commerce.
Michelin Acknowledges Partial Court Ruling On Antitrust Probe
- By TT News
- July 18, 2025
The European Court of First Instance partially annulled the European Commission's decision regarding searches conducted in January 2024 as part of an antitrust probe into possible cartel activity in the tire industry. Michelin acknowledged the 9 July 2025 ruling, expressing satisfaction with the outcome. The company stated it would not appeal the decision but remains committed to defending its position as the investigation continues into other periods flagged by the Commission.
This development suggests procedural or jurisdictional flaws in the initial raids, though the broader inquiry persists. Michelin's response indicates cautious cooperation while maintaining its stance on compliance and legal rights. The case highlights ongoing regulatory scrutiny in the automotive sector, with potential implications for competition enforcement practices.
Doublestar Displays High-Value Tyre Solutions At 2025 Latin Tyre Auto Parts Expo
- By TT News
- July 18, 2025
Doublestar Tire showcased its high-value tyre solutions at the recently concluded 2025 Latin Tyre Auto Parts Expo in Panama City. The event, considered one of Latin America's premier trade events for tyres and automotive components, saw participation from manufacturers, distributors and industry professionals, along with visitors and potential partners.
Doublestar presented a diverse range of innovative tyres tailored to Latin America’s demanding conditions, including high-performance passenger car tyres and robust commercial tyres for trucks and buses. Given the region’s varied terrain and climate, the company highlighted products engineered for superior wear resistance, wet traction and durability. Among the featured solutions was the TBR model TPR79, designed with a specialised tread pattern for enhanced off-road performance, alongside the PCR AT and MT lines – popular among SUV drivers for their safety, extended lifespan and reliable grip on challenging roads.
This exhibition aligns with Doublestar’s strategy to strengthen its presence in Latin America as a provider of advanced, dependable tyre technology. The company remains focused on R&D to deliver sustainable, high-performance solutions that address the dynamic needs of the global automotive market, ensuring safety, efficiency and environmental responsibility.
German Rubber Industry Reiterates Adoption Of ‘First Touch Principle’ At EUDR
- By TT News
- July 18, 2025
The German rubber industry has reiterated its call for the adoption of a ‘First Touch Principle’ in the EU Deforestation-Free Regulation (EUDR), citing excessive bureaucratic burdens. Boris Engelhardt, Managing Director of the German Rubber Industry Association (wdk), emphasised that businesses – particularly small and medium-sized enterprises – are struggling to meet the EUDR’s extensive documentation requirements. The proposed principle would simplify compliance by requiring only the first importer in the European supply chain to provide proof of adherence, exempting downstream processors and manufacturers from redundant verification.
As a major user of natural rubber, the European rubber industry relies heavily on imports from Asia and Africa, making the EUDR’s proposed ‘zero-risk class’ – advocated by 18 EU member states – irrelevant to the sector. While fully supporting the regulation’s goals of protecting human rights and ecosystems in rubber-producing regions, Engelhardt argued that enforcement should focus on initial importers rather than imposing repetitive checks across the entire supply chain.
He noted that established natural rubber traders already comply with EUDR standards, and the industry can trace whether imported finished goods contain natural rubber. This, he stated, should suffice for regulatory oversight. Engelhardt urged EU policymakers to adopt the ‘First Touch Principle’ to streamline compliance, reduce administrative strain, and ensure the regulation achieves its intended impact without unnecessary complexity.
Apollo Tyres Names Mondelez Executive Mahalakshmi Ramaswami As New CHRO
- By TT News
- July 17, 2025
Gurugram-headquartered tyre major Apollo Tyres has announced the appointment of Mahalakshmi Ramaswami as its new Chief Human Resources Officer, effective immediately, the company said in a regulatory filing.
Ramaswami’s appointment was approved by the board of directors following a recommendation from the Nomination and Remuneration Committee.
Prior to joining Apollo Tyres, she most recently served as the Head of HR for the Southeast Asia Cluster based in Singapore at Mondelez International.
She brings over two decades of experience across multinational organisations spanning fast-moving consumer goods, telecommunications, pharmaceuticals and consulting sectors.
During her tenure at Mondelez, Ramaswami is credited to have a played pivotal role as the HR Director for India Region in the business turnaround by aligning people strategy with organisational objectives.
She also has held leadership roles at prominent Indian and multinational companies including Bharti Group, Ranbaxy, Ballarpur Industries and EY.
Ramaswami holds an MBA from IMT Ghaziabad and a Bachelor’s degree in Physics (Hons.) from Delhi University.
On the other hand, as part of the Management Restructuring at Apollo Tyres, Dipankar Ghosh, Group Head of HR Business Partnership for Manufacturing & Projects, will no longer be part of the senior management structure as defined under securities regulations, effective 16 July.
The restructuring reflects Apollo Tyres’ strategic focus on strengthening its human capital capabilities as the company navigates competitive pressures in both domestic and international markets.
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