Honda and GS Yuasa sign JV agreement to establish new company
Honda and GS Yuasa have signed a joint venture agreement toward the establishment of a new company. As announced on January 23, 2023, the two companies have been discussing specifics for collaboration on high-capacity, high-output lithium-ion batteries, mainly for EVs. To address the rapidly-growing demand for batteries, the new joint venture company, which will be named Honda・GS Yuasa EV Battery R&D Co, Ltd, will research and develop lithium-ion batteries and battery production methods that will be highly competitive at a global level. Moreover, the new company will strive to establish a supply chain for key raw materials and a highly-efficient production system for its batteries.
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Banner to expand in Chinese market
As part of its ‘Agenda 2030’ corporate development strategy, Banner has taken the decision to establish a major presence in China. Representing an opportunity to realise significant sales penetration in what is one of the world’s largest markets, Banner has signed a licensing agreement with leading battery manufacturer, LEOCH.
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Pirelli wins Jaguar Land Rover ‘Supplier of Excellence’ Award
Pirelli has been honoured as a winner at the prestigious Jaguar Land Rover (JLR) Supplier of Excellence Awards. The ceremony, held in the UK at The Grove in Hertfordshire and hosted by television personality Gabby Logan, took place for the seventh year to celebrate the exceptional achievements of suppliers and their extraordinary contribution to JLR’s business over the course of the last year.
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Toyo partners International Federation of Sport Climbing
Toyo Tires has commenced a partnership agreement with the International Federation of Sport Climbing in Europe. As a result, the brand will be present at selected European events in the IFSC calendar. Toyo’s European CEO, Kenta Kuribayashi said: “At Toyo Tires, we are very excited to be partnering and supporting the IFSC and look forward to being part of a young, energetic, and growing sports climbing community. Watching the Sports Climbing athletes push their boundaries of possibilities is truly inspirational and resonates with Toyo Tire’s philosophy to continue advancing creativity and innovation to offer tyre products that exceed customer expectations around to world. We hope to support the growth of sports climbing in Europe and around the world.”
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Pirelli: No board nominations presented, proposal to defer nominations coming
Pirelli & C. S.p.A has announced that, as of the 5 June 2023 deadline for the presentation of Board of Directors nominations lists ahead of the 29 June 2023, no lists were submitted by the shareholders. In other words, board nominations have been put on hold until after the conclusion of the Golden Power Procedure.
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GitiCompete GTR1 tyres ‘perform brilliantly’ at Nürburgring, as 4 Giti Tire Motorsport cars finish
Giti Tire Motorsport by WS Racing’s ‘Girls Only’ team displayed camaraderie, determination and spirit to finish the 51st ADAC TotalEnergies 24-hour Nürburgring endurance race with technical issues, no-fault crashes and technical problems all overcome. Heading into the weekend on a high, regular drivers Célia Martin, Fabienne Wohlwend, Pippa Mann and Beitzke Visser in the all-new G82 series BMW M4 GT4, supported by all-women pit and management crews, began at the very rear of the starting group due to a controversial technical offence.
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From Guangrao to the World: what’s new at the Guangrao tyre exhibition
The 2023 Guangrao tyre exhibition came to an end on May 17, bringing to an end its first live show - held offline - since 2019. Tyrepress attended the three-day 2023 exhibition, and noted similarities with the past but also some changes in exhibitors and visitors to the show. This article was originally posted in Chinese on our sister website, Tyrepress China. A few years ago, the tyre industry in Guangrao underwent integration and reorganisation due to many factors. After undergoing multiple rounds of reshuffling, the local tyre industry has achieved industrial upgrading. At the 2023 Guangrao tyre exhibition, Huasheng, Zhongyi, Jinyu, Hengfeng, Fangxing, Yongsheng and other well-known local tyre companies have booths.
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550 jobs go in Fulda as Goodyear cuts tyre production there by 50%
Goodyear is cutting up to 50 per cent of the jobs at its tyre factory in Fulda, Germany, which will result in “a similar sized” cut in tyre production, the tyre manufacturer announced today. Since around 1100 people are employed at the Fulda tyre factory, that means around 550 jobs will be cut. The news comes as a result of Goodyear’s review of its manufacturing footprint.
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Norvestor acquires truck tyre distributor Colmec Group
Nordic private equity investor Norvestor has acquired a majority stake of Scandinavia and Poland based truck tyre distributor Colmec Group. The company was founded in the 1960s by the Eckerström family, which previously led the company. Peter Eckerström, who stepped down as CEO in early 2022, and the family will remain as minority shareholders after the company’s leadership opted to bring in the new majority owner to lead the company into a new development phase.
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Dunlop joining Harley-Davidson’s 120th anniversary celebration
Harley-Davidson receives a lot of stick about the average age of its bikes’ owners, but even the most senior hog rider is a spring chicken in comparison to the brand itself. This year Harley-Davidson marks its 120th anniversary and will celebrate next month with the HD120 event at the Puskás Aréna. Dunlop will join the company in Budapest from 22 to 25 June.
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Power International Tires acquiring Michelin’s activities in Russia
Michelin announces that it has signed an agreement with Moscow-based tyre distributor Power International Tires LLC for the purchase of its two local companies, Michelin Russia Tyre Manufacturing Company (MRTMC) LLC and Camso CIS LLC. A known partner of Michelin, Power International Tires is one of the country’s main tyre distributors and has a presence throughout Russia.
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Prinx Chengshan outlines emission reduction goals
The tyre industry has long been considered a high-energy consumption industry, and manufacturers based in China have therefore been profoundly impacted by their government’s carbon neutrality and carbon peaking policies. Prinx Chengshan comments that Shandong Province, where its factory in China is located, frequently issues guidance to aid qualitative development within the tyre industry.
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Correction – Giorgio Bruno not yet Pirelli CEO
Although the Pirelli & C. SpA Renewal Shareholders’ Agreement came into force on 19 May 2023, Italy is still using its Golden Power Decree to look closely at shareholder China National Tire & Rubber Corporation, Ltd. The full implementation of the Renewal Shareholders’ Agreement and its application to all parties is being delayed until this process is concluded.
Continue Reading Pirelli Shareholders’ Agreement enters force
Pirelli reports that the Shareholders’ Agreement signed in May 2022 entered force as of 19 May 2023. The renewed agreement replaces the previous agreement that expired on 28 April 2023 but doesn’t yet fully apply. Pirelli explains that proceedings related to the Golden Power Decree are still ongoing, with the agreement’s effect and voting rights for China National Tire & Rubber Corporation, Ltd. (CNRC) remaining suspended until a conclusion is reached.
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Apollo Tyres commits to sustainable rubber sourcing
Apollo Tyres is now sourcing 100 per cent of its natural rubber supplies from companies who have committed to sustainability throughout the supply chain, aligning with the code of conduct set out by the Global Platform for Sustainable Natural Rubber (GPSNR). The new initiative, which came into full effect recently and forms part of Apollo Tyres’ Global Sustainability Strategy, applies to the supply of natural rubber to the company’s two European production facilities in the Netherlands and Hungary.
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