China’s Triangle Tyre to build factory in North Carolina in aggressive move into US market
A Chinese tyre maker is moving more aggressively into the US market with plans for a North Carolina factory that will ultimately employ 800 people and produce six million tyres a year.
A North Carolina state committee on Tuesday approved tax breaks to coax Triangle Tyre to rural Edgecombe County, about 65 miles (100 kilometres) east of Raleigh. It’s to be the first US plant for the Weihai, China-based maker of tyres for passenger vehicles, trucks, buses and heavy equipment.
Triangle Tyre could receive up to US$152 million in state and local tax breaks, worker training and other incentives if it meets hiring targets.
The Triangle factory marks at least the third Chinese tyre maker to build production plants in the US, with other companies choosing sites in South Carolina and Georgia.