Shanghai, December 25, Gasgoo.com --Continental Tire, the fourth largest tire maker in the world opened its hundredth dealership in China last Wednesday. The company plans to have a total number of 300 dealerships across China by the end of 2008..
"The hundredth store in China is a milestone for our long-term development in China," said Klaus Kreipe, chief of Continental Tire China operation at the opening ceremony of the new store in Shanghai.
Continental Tire, a tire-making unit of the Germany-based Continental AG, announced a $215 million investment plan to build its first plant in Hefei, the capital city of Anhui province in East China in late October. The new plant is set to start construction in mid-2008 and be put into operation in 2010. The facility is expected to put out 4 million tires, which will be primarily sold in China’s domestic market.
Also in October this year, Continental AG set up a storage and logistics center in Shanghai. The new center has a capacity to stockpile 80,000 tires, and could distribute as many as 400,000 tires annually.
In January 2006, Continental AG established its Asian headquarters in Shanghai.