Exclusive: Hankook Tire to supply tires for Aptera solar EVs

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Exclusive: Hankook Tire to supply tires for Aptera solar EVs

Published: 18 Apr. 2025, 07:00 Updated: 18 Apr. 2025, 07:15

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

Visitors look at Aptera solar-powered car at LG Energy Solution's booth at the InterBattery 2025 at Coex, southern Seoul, on March 5. [SARAH CHEA]

Hankook Tire and Technology, Korea’s largest tire maker, is set to supply tires for Aptera Motors, a California-based solar EV startup, for its three-wheeled solar electric cars in a deal sized at $10.5 million, according to an executive at the startup.

“Hankook Tire will supply tires for Aptera EVs, and they will be produced at its Indonesia plant,” the executive at Aptera Motors told the Korea JoongAng Daily. “The supply will extend for five years, starting from 2026."

[단독] 한국타이어, 美 태양광 전기차 기업 앱테라와 독점 공급 계약 체결

The two-seater Aptera EV is touted to be the world’s first mass-produced solar-powered EV that can travel up to 643 kilometers (400 miles) on a single charge, along with 40 miles of daily driving from solar panels that are patched onto the roof and hood.

Hankook Tire, however, has yet to confirm the deal, adding that it's "difficult to confirm the supply during the development stage of original equipment tires."

Hankook Tire and Technology launched an EV-dedicated tire brand, iON, in 2022. [HANKOOK TIRE AND TECHNOLOGY]

According to Aptera, tire supply will begin in stages from 2026 — when the EV startup aims to commercialize the car — with full-scale production planned for 2028.

The U.S. EV maker has already received 50,000 preorders for the car, with the release slated for summer 2026. Aptera in February completed a production-intent validation test on the vehicle at a proving ground in the Mojave Desert to validate its core efficiency under real-world conditions.

With a body resembling a spaceship along with an electric motor, the carmaker's top-spec vehicle can travel a distance of up to 1,600 kilometers on a single charge. The price for the Aptera ranges from $28,000 to $55,000, with the 400-mile version priced at $40,000.

“No plans for launch in Europe and Korea for now, but we are expanding our cooperation with many Korean companies for the Aptera, including also with LG Energy Solution and CTNS,” another source from Aptera Motors said.

Visitors look at the Aptera solar-powered car at LG Energy Solution's booth at InterBattery 2025 at Coex in southern Seoul on March 5. [SARAH CHEA]

LG Energy Solution, Korea’s largest battery manufacturer, announced in January that it had inked a deal with Aptera to supply 4.4 gigawatt-hours' worth of its 2170 cylindrical batteries for seven years starting from 2025. Supply has also been postponed and will start in 2026.

The deal size has not been disclosed but it is estimated to be worth some 700 billion won ($490 million), considering the average battery pack price of $115 per kilowatt-hour in 2024.

After debuting its EV-dedicated iON tire brand in 2022, Hankook Tire is swiftly broadening its range of electric vehicle tires, solidifying its position at the forefront of the rapidly expanding EV tire sector.

Tires engineered specifically for EVs command a 10 to 20 percent price premium over conventional tires for internal combustion engine vehicles, requiring more frequent replacement — every two or three years compared to the four- to five-year cycle for internal combustion engine vehicles.

Hankook Tire has already secured many EV makers as clients including Tesla, BYD, Xpeng and Rivian, as well as flagship electric models from global automakers including Hyundai Motor’s Ioniq 6 and 9, Kia’s EV9, Tesla Model Y, Porsche’s Taycan EV, Audi’s e-tron, and BMW i4.

Of all the company's original equipment tires, those for EVs accounted for 15 percent in 2023, which grew to 22 percent in 2024. The portion is expected to reach 29 percent in 2025.

Hankook Tire and Technology's manufacturing plant in Indonesia [HANKOOK TIRE AND TECHNOLOGY]

However, the ongoing global tariff war, ignited by U.S. President Donald Trump, continues to pose significant threats to the tire maker’s global expansion.

Trump announced 25 percent tariffs on all auto part imports, effective on May 3. This may be a worrying development, as 24 percent of Hankook Tire's sales came from the North American market as of last year.

Hankook Tire is responding to the tariff volatility by boosting its U.S. production capacity. It plans to double its tire production capacity at its Tennessee factory from the current 5.5 million units to 12 million per year.

“Hankook & Company is arranging countermeasures by circumspectly monitoring the Trump administration's trade and economic policies,” Hankook & Company Chairman Cho Hyun-bum said in a message to employees.

Hankook Tire reported 9.41 trillion won in revenue and 1.76 trillion won in operating profit in 2024, both reaching record highs since its founding in 1941. It currently supplies tires to around 250 car models from 40 brands across the globe.

BY SARAH CHEA [[email protected]]