Pirelli's board approved an investment of about €1 billion on 22 September to expand its tire plant in Rome, Georgia.
A bigger US footprint for Pirelli. The plan lifts the site's capacity to about 6 million car tires a year by 2033. Pirelli expects around 1,000 new jobs, with implementation starting in 2027.
Pirelli's robotic MIRS technology will deliver the first 3 million tires a year, and a second automated facility adds the rest. Three directors voted against the plan.
Linglong aims at Europe from Egypt. Linglong's board approved a $270 million plant at Borg El Arab, near Alexandria, on 23 September. The company disclosed the decision the next day. The plant would have capacity for 6 million radial passenger-car tires a year after a two-year build. The project still needs government approvals and filings.
Linglong's filing cites Egypt's trade agreements with the EU, Turkey and African states as a route to preferential or zero-tariff access. The approval follows a broader $2 billion tire-complex MoU that Linglong signed with Egypt earlier in September.
Continental agrees to sell its Australian retail chain. Continental agreed on 24 September to sell mycar Tyre & Auto, which has about 280 stores, to China's Tuhu. The deal gives the chain an enterprise value of A$403 million and still needs regulatory approval. Continental called the deal another step in its focus on developing and manufacturing tires.
Rubber sets a new 13-year high. TradingEconomics' rubber benchmark reached 254.00 US¢/kg on 25 September, up 46.7% year-on-year. TradingEconomics puts that at its highest level since early 2013. It cites rain-disrupted tapping in Thailand and port congestion at Abidjan. Softer Chinese tire production has partly offset that pressure.
Electric cars pass a quarter of EU sales. Battery-electric cars took 27.7% of EU registrations in August, up 62.7% year-on-year, according to electrive. Chinese-owned groups reached 10.8% of the overall market, up from 6.6%, Euronews reports. EY's Constantin Gall warned that the growth depends heavily on subsidies and could fall sharply if they end.
Governments absorb the fuel shock. The Bundestag voted 434 to 128 on 25 September to cut German fuel tax by about 17 cents a litre. The cut runs from 1 October to 31 December and carries an estimated gross tax cost of about €2.8 billion. France said on 22 September that its €100 payment for high-mileage workers will reach 5.5 million people, up from 3 million.
