Update: Wanli parent company to invest $1 billion in South Carolina plant

Guangzhou Vanlead Group Co. Ltd., the China state-owned entity that controls Wanli Tire Group, plans to invest $1 billion in two phases over eight years to build a radial tire plant in Orangeburg County, South Carolina. The first phase will be a plant capable of producing 6 million consumer tires a year.

At the 2017 China(Guangdong)-U.S. Investment Cooperation Conference held in Guangzhou April 20-23, Fu Shoujie, Chairman of Guangzhou Vanlead Group Co., Ltd. and Alan Daniel Young，Executive Director of the Coordinating Council for Economic Development at the South Carolina Commerce Department, signed a project investment Letter of Intention as the respective representatives from both parties.

You can read the full press release here.