Hankook Tire signs premium deal with Daimler image

In a bold step up in South Korea’s top tire maker, Hankook Tire Co Ltd said on Monday it has begun supplying tires to Daimler AG for the new Mercedes-Benz S-Class and E-Class sedans.

Currently the world’s seventh-largest tire maker, Hankook has been quite eager to expand further in the premium tire market and the deal with the luxury carmaker was one of several new contracts for them.

It also said it has added Nissan Motor Co Ltd to its customer base with a deal to supply tires for the new Altima sedan. Hankook also plans to expand its partnership with BMW to the 5-Series premium sedans, on top of the 1- and 3-Series, and will supply tires for Toyota Motor Corp’s new Corolla compact sedan in addition to the iQ minicar.

Hankook Tire, a family-controlled business owned by Chairman Cho Yang-rai, also counts Audi, Honda, Volkswagen, GM and Ford among its customers, in addition to Hyundai Motor Co and Kia Motors Corp.

Via Reuters