Some 180 days after signing a memorandum of understanding with Hahn & Company in May, on 31 October Hankook & Company Group (formerly Hankook Tire Group) entered into share purchase agreements for the acquisition of Hanon Systems Co. Ltd. The company has executed the acquisition through its core business, Hankook Tire & Technology (Hankook Tire), and now holds a 54.77 per cent stake in Hanon Systems.
Effective July 2024, Hankook Tire & Technology is a full member of the Global Data Service Organisation for Tyres and Automotive Components (GDSO). The association welcomes the Korean tyre maker as a “strong partner that is committed to digitalisation and sustainability in the sector.
Hankook Tire & Technology shares that it is supplying ultra ultra-high-performance tyres to the new BMW M5. The performance saloon is available with the Hankook Ventus S1 evo Z in the front axle size HL 285/40 ZR20 (111Y) XL and rear axle fitment 295/35 ZR21 (110Y) XL. BMW M has also homologated a winter fitment, the Hankook iON i*cept.
Hankook Tire & Technology is showcasing its portfolio of EV tyres at the Everything Electric Show South (EES South) show in Hampshire. Hosted by Fully Charged, the channel founded by Robert Llewellyn, EES South will take place from 11 to 13 October at the Farnborough International Exhibition & Conference Centre.
With the opening of a subsidiary in Morocco, Hankook Tire & Technology aims to expand its presence in the Maghreb and West Africa regions. The tyre maker’s European headquarters has played a key role in setting up the new subsidiary, which Don-yi Jeon will lead as Managing Director.
Next year, Hankook Tire & Technology will make a comeback as the official tyre supplier for the Bathurst 6 Hour race in Australia, replacing MRF Tyres, which has served in this capacity since 2019. Hankook Tire previously served as the tyre supplier for the inaugural race in 2016 and the two following years. As part of the new agreement, it will supply every competitor with Hankook Ventus R-Spec Medium compound tyres throughout next year’s event, which takes place from 18 to 20 April 2025.
Honda has recognised Hankook Tire North America with two 2023 Mass Production Supplier Awards, reflecting its ongoing collaboration with the automaker in delivering original equipment, a partnership that dates back to 2013.
It has been more than two years since we gained our first glimpse of the new Hankook Dynapro HPX for SUVs and 4×4 vehicles. Hankook Tire & Technology shares that the tyre is now available in the UK and Europe; as of June 2024, it offers Dynapro HPX in “all standard tyre sizes from 16 to 19 inches.”
Hankook Tire & Technology Co., Ltd is now majority shareholder in South Korean automotive parts manufacturer Hanon Systems Co., Ltd., following approval from regulatory bodies such as the European Commission. Hankook Tire holds a 50.53% stake in Hanon Systems.
During the second quarter of 2024, Hankook Tire & Technology (Hankook Tire) demonstrated robust financial performance, posting consolidated global sales of KRW 2,317.8 billion (£1.32 billion). Operating profit for Q2 2024 was KRW 420 billion (£239.4 million), an increase of 69.2 per cent compared to KRW 248.2 billion in the same period last year.
The new Mercedes-AMG GT Coupé is available with Hankook Ventus S1 evo Z tyres as an original fitment. Hankook Tire is supplying bespoke versions of this UUHP tyre, with a modified tread pattern and compound, to ensure the 585 hp / 430 kW car achieves “maximum grip even in extreme driving conditions.” The tyre maker says that this OEM approval, including the vehicle manufacturer’s M01 (Mercedes-AMG Original) symbol on the tyre’s sidewall, marks the “first partnership between Mercedes-AMG and Hankook.”
Hankook Tire & Technology has released its 2023/24 ESG Report, detailing its sustainable management activities and performance for the year, alongside its mid and long-term strategies. This annual report, now in its 15th edition, emphasises key achievements across three main categories: Eco Value Chain, Sustainable Product, and Responsible Engagement. These accomplishments align with Hankook Tire’s ESG vision of “Innovation for a Sustainable Future.”
Hankook Tire & Technology’s tyre plants in Geumsan, South Korea, and Tennessee, USA are currently home to field tests of augmented reality technology developed by Hankook & Company subsidiary Model Solution. The total hardware platform company now aims to extend its competencies through an agreement signed with an artificial intelligence (AI) and extended reality (XR) technology company Virnect. This will see the two partners collaborating to research and develop smart goggles at Model Solution’s facility in Bucheon, South Korea.
Hankook Tire & Technology (Hankook Tire) has released a new campaign brand film that highlights its engagement as exclusive Formula E tyre supplier. The film focuses on the performance and brand image of the iON Race electric racing tyres that Hankook Tire supplies to all teams participating in Formula E, including high-performance brands such as McLaren, Maserati, and Porsche.
Season 10 of the ABB FIA Formula E World Championship concludes this weekend (19 to 21 July) with a final event in the UK. The final two races of the season at the Hankook London E-Prix will determine the new Formula E world champion. Leading the standings going into the final round is New Zealander Nick Cassidy of the Jaguar TCS Racing team, who currently has 167 points. Close behind are fellow New Zealander Mitch Evans (Jaguar TCS Racing) and German driver Pascal Wehrlein (Porsche), both with 155 points. Fourth-placed António Félix da Costa (TAG Heuer Porsche Formula E Team) has also been performing strongly, winning four of the last five races. Seven drivers remain in the running to win the championship at the end of the weekend.
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