Hankook Tire dominates EV market

Hankook Tire supplies Ventus S1 evo 3 EV tires to Volkswagen’s ID. Buzz. [HANKOOK TIRE AND TECHNOLOGY]

Hankook Tire and Technology has taken the top spot in the tire market for electric vehicles (EV).

The expansion of the EV market led to surging demand for tires exclusively for EVs and tire makers are actively trying to dominate the new market.

Hankook Tire, the largest tire manufacturer in Korea, is playing a leading role. Because it secured technology exclusively for tires through continuous investment even before commercialization, Hankook Tire was able to rapidly dominate the market.

Hankook Tire started to make its presence known in earnest at a time when it was supplying tires for Porsche’s Taycan, its first high-performance electric sports car model, in 2020. By partnering up with Porsche, a top sports car manufacturer, Hankook Tire was able to fully verify its technical skills for EV tires.

Tesla’s Model Y and Model 3, which hit the market during the global EV supply craze, also chose Hankook Tire as a supplier.

In 2021, the tire maker formed a partnership with Audi’s e-tron GT, a high-performance electric sports car, with the aim of expanding its partnerships with EV brands. As its portfolio diversified, Hankook Tire expanded its partnerships beginning with BMW’s i4, followed by Audi’s compact electric SUV Q4 e-tron and Q4 e-tron Sportback, Hyundai’s sedan-type EV IONIQ 6 and Skoda’s electric SUV Enyaq iV.

Hankook Tire has proven the popularity of its innovative EV tire technology once again by equipping Toyota’s first-ever battery-powered EV, the bZ4X, with its Ventus S1 evo3 tires in January this year.

In addition, Hankook Tire announced that it will supply original equipment tire for the ID. Buzz, Volkswagen’s battery electric minivan and ID. Buzz Cargo. The models will be equipped with Ventus S1 evo3 EV tires, specially developed for EVs.

Hankook Tire is also actively targeting the replacement tire market. As part of that aim, in May last year, it launched iON, the first tire brand ever with a complete line-up exclusively developed for EVs, in Europe. iON is for all seasons and sedans and SUVs to meet a wide range of demands in the replacement tire market.

BY PARK YE-EUN [park.yeeun@joongang.co.kr]