Nexen to supply Fiat OE tyres

Nexen Tire has announced that it has been selected as original equipment (OE) manufacturer by Fiat. Under the agreement, Nexen will supply tyres for Fiat's Multipla model range, scheduled for production from March 2013, as well as Fiat's Doblo light commercial vehicle (from 2014).

The Multipla, Fiat’s MPV (Multi-Purpose Vehicle), which is destined for the North American, will be fitted with Nexen’s high performance CP671 tyre. According to the Korean manufacturer’s website, Nexen has been awarded the OE deal alongside prestigious global tyre manufacturers such as Goodyear and Continental. 

Encouraged by the new partnership, Nexen reportedly plans to increase its production and widen its product range, to supply an increasingly larger number of models. 

Despite the economic downturn and price increase in imported raw materials, Nexen Tire has set a new global sales record of KRW 17,000 billion (a 21 per cent year-on-year increase). The company also forecasts a rapid growth once its new Changnyeong plant is fully operational next year; moreover, the Yangsan and Qingdao plants are currently being expanded.

“Our official nomination for Fiat is testament to Nexen Tire’s product quality and technical skills; we plan to expand OE supply services to a larger number of global car manufacturers, both in North America and Europe,” said Lee Hyun Bong, CEO of Nexen Tire.