Hankook Tire is expanding its Laufenn portfolio with the LF95, a trailer tyre it has designed to deliver “impressive mileage” in regional haul applications and various road conditions. This latest product from Hankook’s second-line brand is available in a regroovable size 385/65R22.5.
To aid its development of eco-friendly tyres, Hankook Tire & Technology has signed a Memorandum of Understanding (MoU) with petrochemical company Kumho Petrochemical Co., Ltd. (KKPC). Amongst other things, the MoU ensures Hankook Tire is first in line to receive KKPC’s Eco Solution-polymerised Styrene-Butadiene Rubber (Eco-SSBR) at “a fair price” once commercial its production commences in 2026.
Hankook Tire anticipates that tyres for electric vehicles will account for around 20% of its original equipment passenger car and light truck tyre deliveries in 2023. This figure represents a notable increase over prior years: EV tyres accounted for 11% of OEM car and light truck shipments in 2022 and just 5% in 2021.
Thanks to the deployment of a “comprehensive technology package,” Hankook Tire states that its latest generation of drive, steer and all-position truck tyres deliver “considerably less rolling resistance” than their predecessors. These new tyres are the Hankook SmartLine AL50 and SmartLine DL50.
By 25 April, Hankook Tire & Technology had received more than 2,000 complaints from local residents, businesses and farmers related to the fire that broke out at its Daejeon tyre plant on 12 March. In a statement issued today, the company indicates its intention to provide compensation as soon as possible for those complaints that are “closely related to the fire incident and can be proven.” Hankook Tire is also engaged in clean-up activities and repairing public facilities in order to “restore daily life” in the local area.
Hankook Tire reports that it has entered into a strategic partnership with Chinese electric vehicle manufacturer Leapmotor. It begins this arrangement with tyre supply to the Leapmotor C11, an all-electric SUV that will wear Hankook Ventus S1 evo3 ev tyres as an original equipment fitment in a 20-inch size. Moving forwards, Hankook Tire and Leapmotor intend to embark on further joint projects.
Arrested on 6 March 2023, Hankook Tire & Technology chairman Cho Hyun-bum has now been indicted on charges of illicit inter-affiliate trading, embezzlement and breach of trust.
An accolade for Hankook Tire in Australia, with its affiliated tyre distribution brand JAX Tyres & Auto winning in the key ‘Customer Experience of the Year’ category at the Retailer Awards 2023. JAX was recognised for its customer-centric service innovation based on clear key performance indicators and business frameworks.
As of this season, Hankook Tire is exclusive tyre partner of the FIA Junior European Rally Championship, a series for highly-talented young rally drivers held as part of the FIA European Rally Championship. All cars in the Rally4 category will compete on Hankook Ventus Z215 and Dynapro R211 tyres.
The FIA European Rally Championship (ERC) will include four tyre manufacturers in 2023, following the announcement that Hankook is producing a tyre range homologated for the series. The ERC sees the addition of Hankook tyres alongside those from Michelin, MRF and Pirelli as a move that “reinforces the strength” of the championship.
Hankook Tire & Technology has become a KRW 3 billion (£1.9 million) pre-Series A investor in South Korean used car e-commerce platform ‘Carmerce’. The tyre maker and start-up signed an investment contract at Hankook & Company’s headquarters on 28 February.
The VW camper is back in electric form as the ID. Buzz, and Hankook Tire says it is supplying tyres for models delivered with optional high-spec wheels. Volkswagen has also approved Hankook tyres as original equipment in the standard size worn by the ID. Buzz Cargo.
Master Class of Racing (MCoR) is a new and – according to its promoter – “industry-changing” race series in the USA. The stated main goal of MCoR is to “offer sprint racing and a fantastic short format endurance racing at a cost that makes sense for teams and more critically, the drivers.” All of these drivers will compete on Hankook tyres.
Announcing its 2022 financial results, Hankook Tire & Technology (Hankook Tire) shares that its consolidated global sales reached an “all time high” last year. Sales increased 17.5% to KRW 8,394.2 billion (£5.6 billion, $6.9 billion). Operating profit rose 9.9% YoY, to KRW 705.7 billion (£468.2 million, $576.7 million).
Hankook Tire is set to reduce costs and wastage in its production facilities thanks to a research collaboration with Korea Atomic Energy Research Institute and HM3DP, a 3D printing start-up. Working with these partners, Hankook has developed ‘Damaged Parts Restoration 3D Printing Technology’, which it will use to restore titanium alloy blades that are damaged while cutting tyre rubber during the production process.
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