Businessman Tran Dinh Quyen, Chairman of the Board of Directors, General Director of Tin Thanh Group: Gathering Vietnam's technology and strengths to reach out to the ocean (Part 2)

With the first brick being the Tire Retreading, Tire Recycling and Lubricant Production Plant Project in the state of South Carolina (USA), businessman Tran Dinh Quyen aims to capture 10% to 20% of the market share of full-service operation of all types of transport vehicles in this country.

Having succeeded and made his mark in the environmental energy industry with the production of saturated steam for industries, businessman Tran Dinh Quyen is still nurturing a new energy, transportation and environmental project . This project has gone beyond the territory of Vietnam.

Lesson 2: Creativity has no end

Although he was successful in the saturated supply industry, he wanted to do full-service trucking in the US. This is an area where Tin Thanh does not have many advantages. Why did he choose that direction?

We often say “export on the spot to bring back dollars”, but we can’t keep taking dollars from other people! At this point, I started thinking, how can we exploit what their country needs, while we have it, even have it excellently, and exploit the available infrastructure to create tools, to add value, like Uber, Grab, Amazon, Alibaba have done…

During the time of cooperating in supplying air to Danang Rubber Company (DRC) and then joining the Board of Directors, I was the one who initiated bringing DRC tires to the US in 2014. From only exporting 2 containers per month in the early stages, now, on average, we export more than 100 containers per month and will likely increase to 200 containers by 2024.

Mr. Tran Dinh Quyen, Chairman of the Board of Directors, General Director of Tin Thanh Group (right) welcomed Mr. Marc E. Knapper, US Ambassador to Vietnam, to visit and talk with the business.

I think that America needs tires and after tires, it needs many other things, such as batteries, belts, bearings, screws, leaf springs, frames, wires, grease, engine oil, oil... Currently, America is lacking drivers, repairmen, maintenance workers, the number of people lacking is up to 200,000 people. So why don't we work in the field that America is lacking and in need of?

Tin Thanh's strategy is to provide a full range of services, and will be a pioneer company based on the 20 patents that Tin Thanh has successfully acquired and built to become a circular service chain, including technology - industry - production - trade - recycling. The final products are converted into electrical energy, such as 1 kg of waste tires producing 3 kWh of electricity, 1 kg of waste oil producing 6 kWh of electricity...

Tin Thanh's strategy is to provide a full range of services, and will be a pioneer company based on the 20 patents that Tin Thanh has successfully acquired and built to become a circular service chain, including technology - industry - production - trade - recycling.

Tin Thanh is testing services in Vietnam and will begin testing and experimenting in the US in Q3/2023. It is expected that in Q4/2023, we will provide services to a partner with 1,000 container trucks and a partner with 13,000 container trucks. It is possible that we will sign an additional contract with a union with 250,000 trucks specializing in transporting for Walmart in Q4/2023.

Through what you just shared, it can be seen that the logistics service market in the US is very potential?

We see a huge demand for truck logistics services globally and in the US, especially in North America - the largest market for trucks, accounting for 26% of global demand by 2021.

In the US alone, there are over 290 million vehicles on the road as of September 2022. This number includes all registered vehicles ( cars , SUVs, trucks, other medium and heavy vehicles).

Can you share more about Tin Thanh's future development direction in the US?

We have many advantages from the manufacturing plant to related inventions, such as the production of Oxygen and Nitrogen in cooperation with Air Products - the world's largest natural gas production group in the US. In addition to the tire project, Tin Thanh Group also has a project to produce green Hydrogen with a capacity of 150,000 tons/year from locally available biomass materials. The patents are applied to related products with the goal of reducing costs from 5% to 25% for each type of product serving logistics.

The “Ecore” application and the smart chip with more than 10 features will bring unique convenience to the full-service operation of trucks. This is a perfect solution for vehicle owners and vehicle users. In particular, the “Ecore” app has outstanding features like the software used by airlines. The chip has the ability to notify the origin, pressure, temperature, speed, location, whether the vehicle is operating with or without a load, how the tire will be recycled after its useful life expires... Vehicle owners can know this information anywhere, if there is a phone signal.

Furthermore, when the vehicle arrives at the rest stop, we have a mobile technical team to serve as maintenance and repair services for airlines. Drivers are taken care of at the rest stop and allowed to continue the journey or not depending on the driver's health condition. The service in the truck's cab has many conveniences, bringing comfort to the driver during operation.

In addition, we will pump liquid nitrogen into each tire, provided by Air Products at 2,000 Tin Thanh stations in the US. Tires are filled with pure nitrogen instead of air to increase 9 beneficial features for operation and use.

The oils that Tin Thanh will use are produced at the Tire Retreading and Tire Recycling Factory, supplemented with Tin Thanh's exclusive super nano Graphene additive. When using this additive, the life of the oil and engine will be greatly increased, helping to save fuel significantly. This technology has been patented in the US.

For service users, what benefits will Tin Thanh bring to them? What is the difference between Tin Thanh and its competitors in the market, sir?

The biggest goal that Tin Thanh sets is to reduce the total cost for truck owners by 5% to 10%, and to reduce emissions by no less than 50 tons of CO2 per year for 1 container truck. For example, a container truck in the US costs no less than 3.1 USD/mile and runs no less than 100,000 miles/year. We will reduce this cost to less than 2.8 USD/mile and also run no less than 100,000 miles/year.

In addition, car owners also enjoy 30% of revenue from the Clean Development Mechanism (CDM) when contributing to reducing CO2 emissions (an average of 100,000 miles reduces emissions by no less than 50 tons of CO2/car/year when using Tin Thanh's services).

In particular, when participating in the full service package, managers and drivers will enjoy many benefits only available at Tin Thanh. For example, in addition to receiving salary and social benefits, they will be served attentively in other activities throughout the operation; receive health care at Tin Thanh's rest stops; be managed and connected to technical stations and rest stops, which the vehicle owner can monitor throughout the operation.

Those who work for Tin Thanh are also given preferential periodic vacations based on their work productivity; and receive comprehensive health care for themselves and their families when their work productivity meets Tin Thanh's standards.

With a network of up to 2,000 stations and links with other strategic partners of Tin Thanh, customers can easily use Tin Thanh's services anywhere in the US. In addition, the social networking application developed by Tin Thanh will help connect and create a community including all users and customers using Tin Thanh's services.

With these factors, we aim to reach 1 million container trucks using Tin Thanh's services each year by 2028 and further to capture 10% to 20% of the market share of full-service truck operations in the United States.

It is known that recently, on April 13, 2023, US Ambassador to Vietnam Marc E. Knapper and the US Consulate General in Ho Chi Minh City visited King Coffee Company and Tin Thanh Group, and expressed their desire to accompany and support this project. Can you share more about that meeting?

On March 14, 2023, we broke ground on the Tire Retreading, Tire Recycling and Lubricant Production Plant in South Carolina (USA). The ceremony was attended by the Governor of South Carolina, ministers, US congressmen... In addition, the Vietnamese Ambassador to the US and the Vietnamese Trade Counselor in the US also attended and accompanied us.

Next, on April 13, 2023, the US Ambassador to Vietnam and the US Consulate in Ho Chi Minh City visited and expressed their desire to accompany and support the project of Tin Thanh Group and King Coffee. After listening to my detailed presentation, the Ambassador welcomed and assessed that this is a very important project for the two countries.

After this meeting, I also presented it to the Vietnamese Ambassador to the US. The Vietnamese Ambassador to the US was very supportive and emphasized that he would support the construction of an important project for the two countries to balance the current trade deficit. We are preparing the project and will likely present it to relevant parties in the second quarter of 2023.

Sharing the same view with the two Ambassadors, I affirm that this will be a key project of the two countries and will bring great benefits to both Vietnam and the United States.

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