According to the British “Tyres&Accessories” magazine report, South Korea’s Nexans Tire is reported to have finalized the site of the second overseas factory, located in Novovice, Czech Republic (Nosovice). Nexans will spend $800 million to build a new tire factory in Nossovice, Czech Republic, and plans to start production by the end of 2017.

Hyundai Motor currently operates an automobile plant in Nossovice, which was built with a cost of 1.12 billion euros and started production in 2006. At present, the main vehicle produced by the modern Nossovice plant is the i30, and its demand in the European market is constantly increasing.

In early March 2014, Poland's Minister of Economic Affairs JanuszPiechocinski stated that in addition to the Czech Republic , the Lower Silesian province of Poland became a candidate for the new Nexans plant. Although foreign media reported recently that Nexen has finalized the establishment of a factory in the Czech Republic, the company still has not issued an official statement.

Nexen is currently the only overseas factory outside of Korea, located in Qingdao, China, with a tire capacity of 10 million pieces/year; the company's tire production capacity in South Korea is 19 million pieces/year, and its domestic production capacity is expected to expand to 3,000 this year. Ten thousand/year. In addition, Nexen has also set a goal of squeezing into the world's top ten tire manufacturers by 2020, when the company plans to raise the global tire production capacity to 80 million / year.

The original title of the article: Foreign media claims that Nexen will set up a factory in the Czech Republic will invest 800 million U.S. dollars

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