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The second phase of the Hankook Tire Factory project entered the pilot production stage on May 21. The factory's production lines are expected to be completed at the end of the year.

According to information released by Hankook, when the production line is put into fully production, the annual production value from its tires will reach 6 million yuan. Hankoook is also expected to launch a new tire product named Laufenn, which will target a younger demographic.

Zheng Chenghao, deputy director of Hankook Tire China Ltd, said that the production volume of the second-stage project will be increased and the daily production volume is expected to reach 15,000 units.

Aside from economical benefits to the company, the new project is expected to create around 1,000 jobs for locals in Liangjiang.

Construction of the first-stage project of the Hankook Tire factory received an investment of $278 million and entered the production in 2010.

Tire product samples of Hankook [Photo/Liangjiang.gov.cn]

Edited by Jacob Hooson