Hankook Tire, Kumho, Nexen to Build Plants in US, Europe Amid EV Transition

Korea’s three major tire makers, Hankook Tire, Kumho Tire and Nexen Tire, are accelerating the expansion of their manufacturing capacity in the United States and Europe, in a preemptive move to widen their share in the lucrative electric vehicle (EV) tire industry, according to data and industry officials, Tuesday.

The strategy is aimed at boosting their sales further by winning more orders from global automakers there, after they generated robust earnings in the first quarter of this year. …

Source: The Korea Times