Hankook Tire has given a name to the combined innovations it uses in its iON electric vehicle tyres. It collectively calls these iON Innovative Technology. Hankook Tire says these newly branded technologies not only accelerate efficiencies in the research and development process but will also enhance communication with customers.
Hankook Tire & Technology has published its 2022/23 ESG Report, highlighting the company’s sustainability activities, performance, and mid- and long-term strategies for the year. The report, Innovation for a Sustainable Future, is the 14th report published since 2010 and provides an overview of Hankook Tire’s performance in three primary categories: Eco-Value Chain, Sustainable Product, and Responsible Engagement.
Hankook will showcase its iON range of specialist electric vehicle tyres at the London EV Show (28-30 November, ExCel London, Stand number ES11). The London EV Show is the largest international trade show and conference focused on the electric vehicle industry in Europe. Hankook launched the iON range in 2022, tyres with a technological emphasis on EVs leading to reduced rolling resistance, low noise, and high resilience. This means that compared to conventional tyres, the tyres offer increased range per battery charge. Hankook iON products are also designed for the high torque immediately produced by powerful electric vehicles. Overall this means a better driving experience for EV drivers.
Recently, Hankook stated that it would carry out technical transformation on the TBR production line of the Chongqing factory. Specifically, the tyre manufacturer plans to invest 47 million yuan (about £5.1 million; €5.9 million) to increase the daily production capacity of TBR from 2,560 to 2,960 (annual production capacity from 900,000 to 1.036 million) within 16 months. Hankook says the project will not add new land and will be built in its existing factory workshop.
Hankook has been recognised for its contribution to the fan experience in its first season as official technical partner and tyre supplier of the ABB FIA Formula E World Championship. The tyre supplier was presented with the award for best fan experience at the official Season 9 Awards Gala following the season finale at the 2023 Hankook London E-Prix, recognising its presence in the racing series’ Allianz Fan Village. Hankook welcomed thousands of fans around the world to its interactive exhibition area, which focused on sustainability and its exclusive tyre partnership with the all-electric race series.
The Science Based Targets initiative (SBTi) has approved Hankook Tire & Technology’s near-term 2030 greenhouse gas (GHG) reduction goals and target of achieving net-zero by 2050. The tyre maker says this approval will help it “gain momentum in the realisation of its 2050 Carbon Neutrality Roadmap.”
Two of Hankook’s top executives travelled to the UK to witness the end of the ninth season of Formula E, for which the tyre manufacturer is the exclusive supplier. Sanghoon Lee, president & COO, Hankook Tire Europe, and Jeongho Park, executive vice president & CMO Hankook, joined the Formula E management and all 22 drivers for an official photo, while Jeongho Park also presented the winner’s trophy to the victorious Jaguar TCS Racing team after driver Mitch Evans’ victory the first race of the weekend on Saturday.
Jake Dennis won his first Formula E title in the Avalanche Andretti Formula E after claiming second place in the first race of the Hankook London E-Prix double-header. The British racer made it onto the podium eleven times over the course of the season but was particularly successful when the series’ tyre supplier Hankook was the event title sponsor: Dennis won the season-opener at the Hankook Mexico City E-Prix and the Sunday race at the Hankook Rome E-Prix. Dennis was crowned the first British champion of Formula E in nine seasons at his home race.
Hankook Tire & Technology reports increasing its revenue and operating profit in Q2 2023 despite a difficult business environment. Revenues were up 11 per cent year-on-year to KRW 2.2634 trillion (£1.37 billion, US$1.77 million), and operating profit jumped 41.6 per cent to KRW 248.2 billion (£150.41 million, $194.0 million). At 11.0 per cent, operating margin was 2.4 percentage points higher than in Q2 2022.
Ahead of this weekend’s 2023 Hankook London E-Prix, British Formula E driver Jake Hughes set a new indoor land speed record in a modified Gen3 car. This ‘GenBeta’ prototype generates up to 400 KW and delivers it to the track via modified Hankook iON Race tyres. Hughes called upon this power to clock a new milestone of 135.9 mph on a 346-metre indoor straight.
Hankook Tyre UK is sponsoring the Open Day that will take place on Friday 4 August to celebrate 20 years of the Warwickshire and Northamptonshire Air Ambulance. Entry to the event at Chester House Estate in Northamptonshire is free and it will feature stalls, activities, music and entertainment as well as a chance to get better acquainted with the service’s helicopter, provided it isn’t called out on mission.
There are many changes in our latest leading tyre manufacturers ranking. The 2023 table, which lists the world’s leading tyre companies according to their full-year 2022 financial results, particularly highlights the shifts that have taken place this year in the second half of the top 20. Meanwhile, the top nine tyremakers appear to be an increasingly stable group. Between places nine and 10, there is still a gap of some 1 billion euros, something that is clearly hard to overcome for newcomers. However, as insurmountable as it appears, the gap is obviously narrowing.
Three of Hankook’s flagship tyres have been recommended in consumer motor magazine Auto Express’s Product of the Year Awards. The all-season Kinergy 4S 2 won the all-season tyre category, following its tyre test victories in 2022 and 2021.Hankook’s Ventus S1 evo 3 SUV tyre and new Winter i*cept RS3 also received the magazine’s “Commended” rating in other categories. “Once again, we are delighted with these Product of the Year awards from Auto Express and this proves that Hankook tyres are a great choice for our UK customers all year round. Hankook is committed to ongoing investment in research and development to continue improving our portfolio of products and their performance,” comments Chang Yool Han, managing director of Hankook Tyre UK.
Hankook Tyre UK partnered EG Wholesale, one of the ten members of independent tyre wholesaler Grouptyre, for its annual charity golf day at Goodwood Golf Club in West Sussex on 18 May 2023. Attending were 48 representatives from the tyre and motor industry in twelve teams of four, including two teams from Hankook’s UK operation. The tyre manufacturer presented each golfer with a sleeve of Titleist golf balls, golf tees, scorecard holder and baseball cap.
Hankook’s tyre range for the light commercial vehicle sector is produced under the Vantra product name. These tyres, targeting single van operators and large fleet operators alike, are designed to optimise the performance of vans in the most common applications. Tyres for the LCV market need to be able to cope with the additional weight and withstand the strain of stop-start urban trips as well as longer journeys, reflecting the variety of conditions in which they operate, delivering essential services from local to national levels. Hankook’s portfolio for the van and light truck category include the Vantra LT, an energy efficient, safe and exceptionally durable summer tyre; and the more recently added Vantra ST AS 2, a durable, multi-performance, all-season tyre.
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