Goodyear is close to a deal on a $1bn manufacturing plant near the northeast Chinese city of Dalian this year, the city’s mayor said on Thursday.
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Dalian mayor Xia Deren told Reuters that the tyre maker and city government had finalised an investment plan and would soon sign a formal agreement.
Goodyear would join rivals Michelin, Continental and Bridgestone in setting up or expanding production in China, the report said.
Goodyear would set up its plant in the Beishan area and hire more than 2,000 employees for a factory that would sell both domestically and for export, Reuters said.
“Although we haven’t signed a contract yet, preparation work by both sides is nearly finished,” the mayor was quoted as saying.
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By GlobalDataOfficial approval is still needed. Goodyear told the news agency it was considering an investment in Dalian but no decision had been made.
