Hankook extends long-term partnership with UEFA Europa League and UEFA Conference League
Immediately following the conclusion of the 2023/24 season UEFA Europa League Final at the Aviva Stadium, Dublin, a somewhat unexpected 3-0 win for Gian Piero Gasperini’s Atalanta over Xabi Alonso’s otherwise undefeated Bayer Leverkusen team, official global sponsor Hankook Tire announced that it will extend its partnership with the competition and the lower tier Conference League, via its Laufenn brand, for a further three-year deal. The new deal extends to at least the end of the 2026/27 season the Korean tyre manufacturer’s relationship with the UEFA competitions, which debuted in 2012. The partnership is already the Europa League’s longest. Both the UEFA Europa League and the Conference League are expanding in the 2024/25 season, affording the Hankook and Laufenn brands increased exposure thanks to a revamped league phase. The showpiece event in Dublin offered a great spectacle on the European stage to Hankook, which has hosted corporate guests all around the continent as well as displayed its branding prominently across the continent as a result of its sponsorship deal this season.
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2024 Guangrao Tyre Exhibition attracts 150,000 – organisers
The 14th China (Guangrao) International Rubber Tire and Auto Accessory Exhibition ran from 15-17 May and reportedly achieved some record-breaking results. Exhibition area reached 52,000 square metres, and the three-day exhibition attracted more than 780 exhibitors from the tyre industry.
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Yokohama faces penalties from Chinese customs
The Chinese customs department punished Yokohama’s Suzhou factory for “false declarations and unpaid taxes”.
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Double Coin is increasing PCR production capacity
Recently, Huayi Group announced its 2023 results. Double Coin, which is responsible for the company’s tyre business, reported 2023 revenue of 10.184 billion yuan (approximately £1.1 billion; €1.3 billion), a year-on-year increase of 1.64 per cent per cent. Throughout the year, the company produced 14.509 million tyres and sold 14.874 million tyres, an increase of more than 10 per cent from the previous year.
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Fangxing Rubber to double car tyre production capacity in 2024
Tyrepress China learned during the 2024 Guangrao Tyre Show that local tyre manufacturer Fangxing Rubber is implementing a production expansion plan. Specifically, Fangxing Rubber’s current production capacity is 3 million truck and bus radials (TBR) and 3 million passenger car radials (PCR). After the expansion plans are enacted, the company will have increased its production capacity for TBR and PCR to 5 million and 6 million, respectively.
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Thailand factory makes over half Jiangsu General’s annual revenue
In 2023, Jiangsu General’s revenue was approximately 5.06 billion yuan (approximately £540 million; €640 million), with a net profit of 220 million yuan (about £ 24 million; €28 million). Compared with the net profit of approximately 17 million yuan (about £1.8 million; € 2.16 million) in 2022, the company’s profit has increased more than tenfold in the past year.
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Orion S.A. investing in French tyre recycler Alpha Carbone
Orion S.A. is investing in Alpha Carbone, a French tyre recycling company. According to the announcement made in mid-May, the partnership will enable Alpha Carbone to scale up and produce commercial volumes of tyre pyrolysis oil and recovered carbon black.
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Aeolus is changing its overseas sales model
Aeolus’ revenue in 2023 will be 5.74 billion yuan (approximately £620 million; €730 million), an increase of 15.05 per cent from the previous year. Among the market shares, domestic market revenue accounted for 52.23 per cent, and replacement and OE accounted for 28.58 per cent and 23.65 per cent, respectively. According to the tyre manufacturer, it will launch a new 12R22.5 TBR product portfolio in the domestic market in 2023.
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China’s tyre export growth continued to slow in April
Data from China Customs shows that tyre exports continued to grow in April. The quantity and value of exported tyres were 55.49 million units and 13.32 billion yuan (approximately £1.45 billion; €1.7 billion).
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Symbio, in partnership with Michelin, presents first hydrogen heavy-duty truck
Two years after announcing the H2 Central Valley Express project, USA-based zero-emission hydrogen mobility firm Symbio has unveiled a hydrogen-fuelled, regional-haul Class 8 truck. It developed and integrated this innovative vehicle in-house and has equipped it with EV-specific tyres from co-shareholder Michelin that offer improved fuel economy and reduced wear.
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Huasheng Group to start Cambodia tyre factory project in 2024
The Dongying, Shandong Province-based Huasheng Group is planning to add a Cambodia tyre production plant to its portfolio of five factories. While there are few details at the moment, the even-lower-than-Chinese production costs paired with the company’s desire to increase tyre export sales are said to be the main motivations behind the move. Tyres & Accessories met company representatives during the recent GuangRao Tire and Rubber Auto Accessory Exhibition, which took place between 15 and 17 May in Dongying where the company had no less than five generously proportioned stands exhibiting its range of car, 4x4, light truck as well as truck and bus tyres.
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Davanti showing new tyres on ‘biggest stand yet’ at Tire Cologne
Davanti Tyres reports that it will be appearing at The Tire Cologne in June with its “biggest stand yet”. Referring to the exhibiting as “the worlds leading trade fair for the tyre industry”, Davanti representatives report plans to use the event as an opportunity to host partners and explore new distribution leads. At the same time, Davanti Tyres will be showcasing “a wide range of products including all-season, winter, high performance and commercial tyres”.
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Triangle Tire’s Europe and Middle East sales grew rapidly in 2023
In 2023, Chinese tyre manufacturer Triangle’s achieved revenue of 10.42 billion yuan (about £1.13 billion; €1.33 billion) and net profit of about 1.4 billion yuan (about £150 million; €180 million). Revenue of 10.42 billion yuan means that Triangle has surpassed Double Coin in the ranking of Chinese tyre manufacturers in 2023 and comes in behind ZC Rubber, Sailun and Linglong.
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EV tyre sector leading the race to recovery: Comparing recent developments in the Chinese and European tyre markets
During our recent visit to China, on the sidelines of the GRTAE expo hosted in what can only be described as the tyre capital of the People’s Republic, Tyres & Accessories enjoyed a panel discussion with Car and Tire editor, Alex Shi. Formerly an executive within the tyre industry – including time with Goodyear – Car and Tires focuses on business-to-business communications and is particularly strong when it comes to tyre testing and in the social media space. Indeed, they are something of a force online, with some 300,000 followers on WeChat, which is a bit like WhatsApp is here in the West. True to form, not only was our discussion hosted in the main meeting room at GRTAE, it was also video recorded and streamed live to a potential of hundreds of thousands of Chinese-language followers in the East. Beginning with the current state of the respective Chinese and European tyre markets in light of recent macro-economic market trends, our discussion then moved onto the similarities and differences between the European and Chinese online tyre sectors (see part two).
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Goodyear involuntary manslaughter probe: Eurojust running ‘coordination centre’ in the Hague
Following the news of unannounced raids on Goodyear offices in France, Belgium and Luxembourg, Eurojust has confirmed that it has assisted the authorities in France, Belgium and Luxembourg with a series of coordinated searches of premises and offices of “an international tyre manufacturer”. While Eurojust hasn’t yet confirmed the identity of the manufacturer at the centre of the investigation, the locations match those that Goodyear itself has said were subject to unannounced visits.
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