Reports: Hankook to Build Indian or Malaysian Factory

Hankook executives are reportedly planning to build a new tyre production facility in either India or Malaysia. The news follows the announcement that Hankook is investing 230 million euros in increasing output at its Dunaujvaros, Hungary factory to 10 million tyres a year. Speaking to the Financial Times, Hankook executive Calvin Pak explained that the company’s next phase of expansion would be in south Asia “for example in India or Malaysia.” There was even talk of a North American plant “in the longer term.” Calvin Pak reportedly explained that Hankook’s competitive advantage over European manufacturers was that it had won quality accolades but remained “more affordable thanks to less of a brand premium.”