Latest news with #HankookTire&Technology
Miami Herald
22-07-2025
- Automotive
- Miami Herald
Korea's Hankook Tire to expand production at U.S. factory
SEOUL, July 22 (UPI) -- South Korea's leading tire maker, Hankook Tire & Technology, plans to expand production lines in its U.S. factory to roll out truck and bus radial tires, or TBR, later this year. Hankook Tire said Tuesday that it strives to increase its TBR tire production to 1 million by the end of 2026 at the Tennessee factory. The firm also aims to double the annual capacity for passenger car and light truck, or PCLT, tires to 11 million. This marks the first time Hankook Tire will churn out TBR tires in the United States. Established in 2017, the Tennessee plant has focused on PCLT tires. The company decided to manufacture TBR tires there because of planned 25% tariffs that could be imposed Aug. 1 by the Trump administration on products imported from South Korea. As of last year, the biggest market for TBR tires made in Hankook Tire's East Asian factories was North America with 38%, followed by Europe with 29%, Korea with 19% and China with 6%. Observers point out that Hankook Tire's move makes sense in consideration of the fast-growing TBR tire market. "People care more about PCLT tires. But for tire makers, TBR tires are more lucrative and contribute more to sales. Hence, Hankook Tire's decision to install TBR tire lines in the U.S. draws attention," Daelim University automotive professor Kim Pil-soo told UPI. "You should win out in the U.S. automotive market to become a genuine global powerhouse. The high tariff of Washington also must have affected its policy of raising production in its Tennessee factory," he said. New York-based business tracker Zion Market Research projected that the global TBR tire market would go rise to $34.47 billion in 2034 from $17.79 billion last year. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
22-07-2025
- Automotive
- UPI
Korea's Hankook Tire to expand production at U.S. factory
South Korea's Hankook Tire & Technology plans to produce truck and bus radial tires in its Tennessee factory later this year. Photo courtesy of Hankook Tire & Technology SEOUL, July 22 (UPI) -- South Korea's leading tire maker, Hankook Tire & Technology, plans to expand production lines in its U.S. factory to roll out truck and bus radial tires, or TBR, later this year. Hankook Tire said Tuesday that it strives to increase its TBR tire production to 1 million by the end of 2026 at the Tennessee factory. The firm also aims to double the annual capacity for passenger car and light truck, or PCLT, tires to 11 million. This marks the first time Hankook Tire will churn out TBR tires in the United States. Established in 2017, the Tennessee plant has focused on PCLT tires. The company decided to manufacture TBR tires there because of planned 25% tariffs that could be imposed Aug. 1 by the Trump administration on products imported from South Korea. As of last year, the biggest market for TBR tires made in Hankook Tire's East Asian factories was North America with 38%, followed by Europe with 29%, Korea with 19% and China with 6%. Observers point out that Hankook Tire's move makes sense in consideration of the fast-growing TBR tire market. "People care more about PCLT tires. But for tire makers, TBR tires are more lucrative and contribute more to sales. Hence, Hankook Tire's decision to install TBR tire lines in the U.S. draws attention," Daelim University automotive professor Kim Pil-soo told UPI. "You should win out in the U.S. automotive market to become a genuine global powerhouse. The high tariff of Washington also must have affected its policy of raising production in its Tennessee factory," he said. New York-based business tracker Zion Market Research projected that the global TBR tire market would go rise to $34.47 billion in 2034 from $17.79 billion last year.
Yahoo
19-05-2025
- Automotive
- Yahoo
Hankook Tire Masters Tokyo's Complex Street Circuit at 2025 E-Prix Double-Header
GEN3 Evo iON Race Tire Showcases Unmatched Versatility Across Tokyo's Demanding Layout Stoffel Vandoorne and Oliver Rowland showcase their mastery of the Tokyo street circuit in Rounds 8 and 9, demonstrating skill and precision GEN3 Evo iON Race tire demonstrates precision handling and adaptability on Tokyo's complex street circuit Hankook's title race to be held in Shanghai from May 31 to June 1 TOKYO, May 19, 2025 /PRNewswire/ -- Set against the dazzling skyline of Tokyo's Ariake district, the 2025 Tokyo E-Prix double-header delivered two days of electrifying racing action. Hankook Tire & Technology (hereafter Hankook), a global leader in tire innovation, once again exemplified its pioneering spirit and engineering excellence through the outstanding performance of its GEN3 Evo iON Race tire during Rounds 8 and 9, Season 11 of the ABB FIA Formula E World Championship (hereafter Formula E). As the exclusive tire supplier for the all-electric racing series, Hankook continues to drive the evolution of sustainable, high-performance motorsport worldwide. Held over two consecutive days on Tokyo's uniquely complex street layout — a circuit combining regular road surfaces, high-speed straights, and tight technical corners — the races demanded nothing less than perfection. Repeated acceleration and heavy braking across unpredictable asphalt conditions placed relentless stress on every component, pushing tires to their absolute limits. Hankook's GEN3 Evo iON Race tire met these challenges head-on. Engineered for precision, endurance, and adaptability, the tire delivered unwavering grip, structural stability, and agile responsiveness even under Tokyo's intense race-day pressures. Throughout the double-header, drivers relied on Hankook's cutting-edge technology to execute daring overtakes, maintain critical pace, and manage energy without compromising performance. Stoffel Vandoorne and Oliver Rowland secured hard-fought victories on Tokyo's demanding circuit in Rounds 8 and 9, respectively, underlining the critical role that Hankook's GEN3 Evo iON Race tires played in enabling precision, consistency, and peak performance. Therefore, Oliver Rowland strengthened his position at the top of the drivers' standings with 161 points, while Nissan Formula E Team demonstrated their growing dominance in the teams' championship, propelled by the strength of the Nissan powertrain. Maximilian Günther (DS PENSKE) commented, "The demanding circuits really make you work. They throw a lot at you — quick straights, tight corners, and unpredictable grip. But the GEN3 Evo iON Race tires really hold up, even in the final laps when performance matters the most." Through this commanding performance, Hankook further solidifies leadership as a true innovator in EV racing, delivering tires that empower drivers to push boundaries and redefine what is possible on the world's most demanding circuits. The ABB FIA Formula E World Championship now heads to Shanghai, China, on May 31 and June 1, where Hankook will enhance its presence as a title race sponsor. View original content to download multimedia: SOURCE Hankook Tire & Technology Co., Ltd. Sign in to access your portfolio
Korea Herald
11-04-2025
- Automotive
- Korea Herald
Hankook Tire to supply EV tires for Hyundai Ioniq 9
Korean tire maker Hankook Tire & Technology announced Friday that it will supply its all-season electric vehicle tire, the iON evo AS SUV, for Hyundai Motor's flagship electric SUV, the Ioniq 9. Developed through close collaboration with Hyundai, the iON evo AS SUV is engineered with Hankook Tire's proprietary iON Innovative Technology that offers an optimal balance of low noise, high energy efficiency, strong grip and extended mileage. The tire features a specialized tread pattern that reduces road noise by up to nine decibels, enhancing the quiet and comfortable driving experience. For all-weather traction, the tire uses a high-silica compound blended with eco-friendly materials to ensure reliable grip on dry, wet and even light snowy surfaces. Its 3D grip control sipes further improve handling performance. The tire also provides extended driving range by significantly reducing rolling resistance, thanks to advanced low-temperature curing technology. Additionally, it spreads pressure to prevent the tires from wearing out, and stronger side and corner support helps the car stay stable. This latest supply deal follows Hankook Tire's earlier partnerships with the Hyundai Ioniq 6 and Kia's EV3 and EV9 models. The company plans to maintain its leadership in the EV tire market through ongoing innovation at facilities including Technoplex and Technodome.
Yahoo
13-02-2025
- Automotive
- Yahoo
Hanon Systems Included in S&P Global's 2025 Sustainability Yearbook
SEOUL, South Korea, Feb. 13, 2025 /PRNewswire/ -- Hanon Systems (KS:018880), a leading global automotive thermal management supplier, has been included in the S&P Global Sustainability Yearbook for the second consecutive year. The 2025 S&P Global Sustainability Yearbook features companies that score within the top 15% of their industry, and achieve a S&P Global Sustainability Score within 30% of the industry's top-performing companies. 7,690 companies from 62 industries were evaluated in the 2024 Corporate Sustainability Assessment, and Hanon Systems ranks as a 2025 yearbook member out of 12 companies in the Auto Components category. "Building on my ESG experience at Hankook Tire & Technology, I aim to further advance sustainable management at Hanon Systems," said Soo Il Lee, CEO and vice chairman of Hanon Systems. "We will continue to strengthen collaboration with various stakeholders to improve our ESG performance across the company and strive to become a global ESG leader." Hanon Systems has been publishing annual sustainability reports since 2017 and established an ESG Committee in 2022 to ensure systematic and proactive ESG management. The company aims to achieve short-term greenhouse gas reductions by 2030, net zero by 2050, and reduce absolute emissions of scope 1, 2, and 3 by 90% by 2040. Additionally, the Science Based Targets (SBTi) initiative has approved these targets in 2024. About Hanon Systems Hanon Systems, founded in 1986, is a global leader in thermal energy management solutions. In January 2025, it became a subsidiary of Hankook & Company Group. Its offering includes a wide range of solutions in the areas of heating, ventilation and air conditioning, powertrain cooling, compressor, fluid transport, and electronics and fluid pressure. The company currently operates 50 manufacturing sites and three regional innovation centers and employs more than 20,000 people across 21 countries. To learn more, visit Follow Hanon Systems: LinkedIn: YouTube: View original content to download multimedia: SOURCE Hanon Systems Sign in to access your portfolio
