Hankook to add truck and bus tyre production line to its European plant

Article written by Bush Tyres

Board of Directors approved a proposal to build a new truck and bus tyre production line at Hankook European production plant in Rácalmás, Hungary, on November 23

Hankook plans to invest EUR 540 million by 2027, obtaining 800,000 units capacity per year upon completion

Seoul, Korea / Neu-Isenburg, Germany, November 23, 2023 – Premium tyre manufacturer Hankook will be newly adding a truck bus radial production line to its European Plant. This expansion proposal for a new Truck Bus Radial (TBR) production line at the Rácalmás plant in Hungary has been approved by the Board of Directors on November 23.

Hankook ‘s Rácalmás plant was completed in 2007 and has served as an outpost for the company’s European expansion. The European plant, which has completed its third phase of construction, is equipped with state-of-the-art manufacturing facilities that can produce 17 million passenger car and light truck (PCLT) tyres annually. The same production plant has also attained the prestigious International Sustainability & Carbon Certification (ISCC) PLUS certification this year.

Hankook will invest approximately EUR 540 million in the project with target completion by 2027. The expansion will create about 450 new jobs. The Rácalmás plant is estimated to produce 2,380 units of TBR products daily, with a total annual estimate of 800,000 units upon completion. Hankook currently has eight production sites around the world with a global capacity total of about 102 million tyres per year.

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About Hankook Tyre

Hankook Tire manufactures globally innovative, award-winning radial tyres of proven superior quality for passenger cars, light trucks, SUVs, RVs, trucks, and buses as well as motorsports (circuit racing/street circuits/rallies).

Aspiring to bring consumers the utmost excellence in product quality, technological excellence and driving satisfaction, Hankook Tire continuously invests in research and development maintaining five R&D centres and eight production facilities around the world. Bespoke tyre solutions for the European markets as well as European Original Equipment according to the requirements of leading premium car manufacturers, are developed in the company’s regional Technical Centre in Hanover/Germany. Production for the European region is taking place in the state-of-the-art manufacturing site in Rácalmás/Hungary which was inaugurated in June 2007 and is continuously being expanded.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in several European countries and sells its products through regional distributors in other local markets. Hankook Tire employs approximately 20,000 people worldwide and sells products in over 160 countries. The company has been the technical partner and exclusive tyre supplier of the Generation 3 for the FIA ABB Formula E World Championship since 2023. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 38 percent of the company’s global sales are generated within the European region. Hankook Tire was first recognised by the Dow Jones Sustainability Korea Index (DJSI Korea) in 2011 and more recently has been on the Dow Jones Sustainability World Index (DJSI World) since 2016.

For more information please visit www.hankooktire-mediacenter.com