Nexen Tire has announced plans to join the largest drift racing scene in Europe. The company announced that it has agreed a sponsorship deal with Team Aerokit Nexen, one of the teams fighting it out for glory in the Drift Allstars 2014 European Series, with the racing calendar running from the 17 May through to September.
Although it is the smallest of the three Korean tyre makers, Nexen has surprised some observers by being the only company in the country to increase both sales and operating profits in the first quarter of 2014. Of course the figures also show that both Kumho and especially Hankook remain significantly bigger than Nexen in terms of both measures, but the news caps a strong quarter for Nexen, which also announced the opening of a European factory and a number of awards and OE deals in the period.
Korean-based tyre manufacturer Nexen has announced that it has won a contract to supply original equipment tyres (OE) for all new Chrysler 200 cars. According to the company, the new 200 model has been produced at Chrysler’s Starling Heights assembly plant in Michigan, USA since 2011.
Team Aerokit Nexen’s 14-year-old debutant Jack Shanahan has claimed victory in the super-pro class of the Maxxis Tyres British Drift Championship’s opening round at Lydden Hill. Shanahan became the youngest ever competitor in the BDC, and his victory was registered against 90 other drivers representing 40 teams. Video from the event is available below, and on Team Aerokit’s social media channels.
Nexen Tire will display its complete line-up at the company’s two-storey, 520 square metre Reifen 2014 stand. Tyres making an appearance include Nexen’s current summer, SUV and winter tyres plus concept and project tyres.
In the recent J.D Power 2014 Original Equipment Tire Customer Satisfaction Study, Nexen Tire attained what the Korean tyre manufacturer described as “promising results” for the second consecutive year.
Hyundai Motor has sold six million cars to European customers since the company began sales in the region in 1977. It took the company 19 years to sell its first million cars in the region. Since then it has taken less time to reach each subsequent milestone, with the latest one million cars sold in just over two years.
After weeks of speculation South Korean tyre manufacturer Nexen Tire has confirmed that it is investing US$800 million in the construction of a new tyre factory in the city of Nošovice, in the east of the Czech Republic.
Earlier this month, Nexen Tire responded to speculation that it had selected the Czech Republic as the site for its new European tyre factory by stating that these were merely false rumours. Now it seems Poland’s Deputy Prime Minister and Economy Minister Janusz Piechociński has indicated his country is top contender. On 14 March, the Warsaw Business Journal published a comment Piechociński reportedly recently made: “Soon there will one of Europe’s largest tyre factories in Lower Silesia.”
Nexen Tire will soon make a decision on where to build its new plant in Eastern Europe, and several international news reports point to the Korean tyre maker choosing the Czech Republic. Yet Nexen denies having selected the country, or indeed any particular location, as its preferred site. Responding to news published by Czech News Agency and media questioning, an unnamed company official made clear what Nexen has already decided upon – and what it hasn’t.
Two of South Korea’s three tyre makers have developed tyres specifically for fitment on the Soul EV, the first electric car produced by Kia. The Korean manufacturer says Kumho Tire and Nexen Tire have developed low rolling resistance 205/60R16 tyres for the vehicle, which debuts at the Geneva Motor Show this week. These reduce rolling resistance by ten per cent without impacting on ride comfort, handling, NVH or braking distance, says Kia.
In the previous financial year, Nexen Tire only managed to slightly increase its global turnover. The third-largest Korean tyre maker reported a 2013 turnover of KRW 1.73 trillion (£973.38 million), just 1.3 per cent higher than in 2012. Income also came under pressure. While operating profit amounted to KRW 177 billion (£99.38 million) and lay 1.9 per cent below the previous year’s result, net profit decreased 7.8 per cent to KRW 124 billion (£69.63 million).
Nexen Tire America has appointed Kyle Roberts its new director of marketing. The company says Roberts will lead the tyre maker’s marketing effort to building a brand that resonates industry-wide.
In addition to supplying tyres for the Octavia, Nexen Tire now also ships products for original equipment fitment on Škoda’s latest Rapid. Nexen’s N’blue tyres are fitted to Rapid and Octavia models manufactured at Škoda’s Mladá Boleslav plant in the Czech Republic.
Nexen Tire has taken on a new European sporting commitment with the signing of a sponsorship contract with German football club VFL Wolfsburg. The contract gives Nexen exposure through the 240 metre-long LED advertisement board and other advertising positions at the team’s home stadium, Volkswagen Arena, and on the VFL Wolfsburg homepage for the 2013-14 half season. Nexen also gains the right to use photos of the team’s players in its advertising and promotional activities.
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