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Tag: tire

  • Bridgestone Vietnam inaugurates 11th ‘Bridge of Knowledge’ in Cao Bang

    Bridgestone Vietnam inaugurates 11th ‘Bridge of Knowledge’ in Cao Bang

    Bridgestone Vietnam recently inaugurated the Noc Soa 2 Bridge in Cao Bang Province, providing safer school access for 40 children and restoring transportation infrastructure for 51 households impacted by Typhoon Yagi.

    The bridge, measuring 25 meters in length and over 3 meters in width, with a load capacity of 6 tons, addresses longstanding challenges in Noc Soa Hamlet. For years, nearly 330 residents relied on makeshift bridges for daily travel. These temporary structures were often swept away during the rainy season, isolating communities, disrupting transportation, and preventing children from attending school.

    Bridgestone Vietnam collaborated with E-X-PRO Advertising Co., Ltd., and local authorities to construct the bridge, prioritizing technical standards and resilience. Enhancements included reinforced embankments to prevent erosion and expanded bridge wings to reduce the impact of flooding.

    “I find this new bridge very beautiful and I’m very happy. With this bridge, I’m no longer afraid of falling on my way to school. During storms and floods, I won’t be scared when going to school anymore.” shared a student from Ca Thanh Commune.

    Dang Van Kinh, Deputy Chairman of the Commune People’s Committee of Ca Thanh Commune, expressed gratitude for the new bridge, noting that it fulfills a long-standing community need. He highlighted the bridge’s role in ensuring safer travel, particularly during the rainy season, and its potential to reduce transportation costs for farmers, thereby supporting local livelihoods.

    Naoki Inutsuka, General Director of Bridgestone Tire Sales Vietnam LLC, remarked on the timely completion of the Noc Soa 2 Bridge as part of the company’s “Bridges of Knowledge” project. He emphasized the bridge’s contributions to local economic recovery, agricultural development, and safer school access for children.

    “We hope this bridge will provide the community with improved opportunities and safety, reflecting our mission of ‘Serving society with superior quality,’” said Inutsuka.

    The “Bridge of Knowledge” initiative reflects Bridgestone’s commitment to fostering sustainable development and enhancing mobility in disadvantaged areas. The project aligns with the company’s E8 Commitment, which focuses on empowerment, access, and comfort for all.

    Bridgestone, a global leader in the tire and rubber industry, operates in Vietnam through Bridgestone Tire Sales Vietnam LLC and Bridgestone Tire Manufacturing Vietnam LLC. The company offers a diverse range of products and services, prioritizing safety, sustainability, and innovation to enhance mobility and quality of life.

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  • Pirelli Launches P Zero Trofeo RS Tyres For Supercars, Hypercars

    Pirelli Launches P Zero Trofeo RS Tyres For Supercars, Hypercars

    Pirelli has expanded its range of P Zero tyre series with the new semi-slick Trofeo RS. Pirelli says that the tyres are the technical successor of the Trofeo R and unlike the latter are available to manufacturers for use as an OEM part. The Trofeo R were only offered as aftermarket alternatives. Pagani Automobili, the Italian hypercar manufacturer, has already chosen the P Zero Trofeo RS as the original equipment for their latest car, the Utopia.

    Pirelli says, the P Zero Trofeo RS delivers performance on dry surfaces and improved consistency over prolonged usage. The Trofeo RS maintains its performance for longer durations, providing both speed and safety throughout multiple track sessions. Furthermore, as a road-approved tire, Pirelli has prioritised safety even in wet conditions.

    The company says that the new Trofeo RS was developed using the company’s learning from its extensive involvement in motorsports. The tyre range also offers a degree of customisability with car manufacturers able to custom order tyres for their performance cars through an on-demand catalogue. This includes multi-compound tread which allows for personalised tire configurations by combining different tread compounds from the company’s catalogue. For the Pagani Utopia, a set of P Zero Trofeo RS tires was specifically engineered to enhance sporty driving performance compared to the original P Zero Corsa tires, without compromising the car’s balance or the driver’s experience.

    Another feature available is Virtual Geometry Development, enabling precise calibration of the tire’s response to the driver’s requirements through virtual modeling of countless footprint profiles and shapes. In the case of the Pagani Utopia, extensive 3D development was employed to optimise grip and control by fine-tuning the tire’s footprint.

    The new Pirelli P Zero Trofeo RS is already being used by car manufacturers as original equipment, and in the near future, it will become available in a wide range for the aftermarket segment. The Trofeo R range too will continue to be available for aftermarket fitment.

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  • Goodyear Launches New Assurance ComfortTred Tyres In India

    Goodyear Launches New Assurance ComfortTred Tyres In India

    Goodyear has launched the new Assurance ComfortTred range of tyres in India. Targeted at luxury vehicles, the company says that the new range of tyres combines advanced technology, sophisticated tread pattern and a consumer-focused design to offer a quieter ride and good levels of grip in the dry and wet.

    Sandeep Mahajan, Chairman & Managing Director, Goodyear India Limited said, “We are excited to introduce Assurance ComfortTred, a new product from Goodyear, tailored for luxury vehicles. Assurance ComfortTred is a true comfort provider that enables the vehicle to become a quiet space for the riders and thus provide superior driving experience to consumers.”

    Goodyear says that the new tyres use its trademark ANX Technology to deliver a quitter ride. The tyre’s closed tread pattern design helps to reduce air pumping noise when driving while the smaller treads reduce the force of impact with the road thus also reducing noise and vibrations. Additionally, the tyres also get an additional layer of noise and vibration-cancelling material during the course of manufacturing.

    The company also claims that the new tyre range is manufactured using a high amount of silica and resin to provide improved traction. The new range of tyres are available in 7 sizes ranging from 225/55 R16 up to 245/45 R18.

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  • Goodyear To Recall Over 1.7 Lakh Recreational Vehicle Tyres In The US

    Goodyear To Recall Over 1.7 Lakh Recreational Vehicle Tyres In The US

    Tyre firm Goodyear on Tuesday said that it would be recalling 1.73 lakh G159 recreational vehicle (RV) tyres in the US. As per a report by Reuters, the recall was issued because of the potential for catastrophic tread separations and after mounting pressure from the U.S. auto safety regulator, the National Highway Traffic Safety Administration (NHTSA). Under the recall, Goodyear dealers will be replacing the tyres installed on RVs along with providing consumers with $60 vouchers. The company is also offering a refund of $500 for tyres not installed on vehicles. The recall only applies to the firm’s G159 tyres of the size 275/70 R22.5.

    The NHTSA opened a preliminary investigation into the tyres in 2017 to review allegations raised in lawsuits that some of the tires had defects causing RV (motorhome) crashes resulting in deaths and injuries. The safety regulator had asked the company to recall the tyres earlier this year though the company had declined the request at the time.

    The company in a filing now said that it had now agreed to recall the tyres “to address concerns that some of these tires may still be in the marketplace or in use.” The company though has said that there were no safety defects in its product and cited that few if any remained on the road with the affected tyres last manufactured in 2003.

    “While these tires are no longer being produced, some RV owners may have the tires on their vehicle, or set aside as a spare, and do not know. NHTSA urges anyone who owns, rents, or uses an RV or truck with 22.5-inch rims to ensure these tires are not in use on their vehicle,” the safety regulatory body said in a statement.

    Additionally, in a separate recall demand latter, the NHTSA said that the company knew of the defect as far back as in 2002 but did not issue a recall.

  • Goodyear Introduces ElectricDrive GT EV First Tyres For Tesla Model Y

    Goodyear Introduces ElectricDrive GT EV First Tyres For Tesla Model Y

    Goodyear has introduced a new set of tires called the ElectricDrive GT which is the first replacement tires for the North American market, designed specifically for EVs particularly for the Model Y. The ElectricDrive GT is a high-performance, all-season tire which has been designed to last long and provide ride quality that one expects with EVs.

    Goodyear is one of the oldest tire companies in the world founded in 1898 just 12 years after the first automobile was invented.  So it does know a lot about tires and it is appropriate that it is one of the first to come up with replacement tires for EVs which are heavier, faster, and have instant torque. This is a huge difference from cars based on the internal combustion engine.

    According to Goodyear, this is the first replacement tire of its kind of EVs in the North American market by a US-based manufacturer.

    “Products that anticipate the mobility needs of consumers are central to Goodyear’s focus on innovation excellence. Electric vehicles present a very specific set of requirements for load, torque, noise, range, rolling resistance, and overall performance. We’re proud to deliver leading technologies to serve the evolving EV landscape,” said David Reese, Vice President, product development, Goodyear Americas.

    The tires leverage Goodyear’s sound-comfort technology which actively rides as a bull in sound batterie to reduce road noise for passengers. The tyre also gets an asymmetric tread pattern and has a specialized tread compound that provides enhanced traction despite the terrain and the driving conditions.

    It also gets a 64,374 km tread life and has a limited warranty with a W speed rating of 270 kmph which is basically not achieved by any car outside of the Bugatti Chiron or the McLaren F1. Goodyear states that the ElectricDrive GT will come only in the 255/45R19 104W XL, but it will expand the product line in 2022.

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  • Apollo Tyres To Increase Prices By Up To 5 Per Cent Citing Rising Cost

    Apollo Tyres To Increase Prices By Up To 5 Per Cent Citing Rising Cost

    Apollo Tyres will increase prices by 3 to 5 percent in the domestic market in the third quarter of this fiscal to offset the rising cost, according to top company officials. The company may further increase prices in the fourth quarter if the commodity rates continue to remain high. Speaking with the media during Q2 FY22 Result Conference Call, Apollo Tyres Vice Chairman and Managing Director Neeraj Kanwar said the company had taken an average increase of around 9 percent in tyre prices up until September.

    He further said, “We are again taking price increases in this quarter varying between 3% to 5% in various segments in the months of October and November.”

    When asked what would be the level of recovery on account of cost inflation in the country post price hikes, Apollo Tyres CFO Gaurav Kumar said, “Raw material costs continue to be a moving target. Even in Q3 from Q2, we expect a small cost-push coming on account of raw material. I would say broadly, we are running about two price increases behind vis-vis what is desirable.”

    In the second quarter ended September 30, Apollo Tyres registered a 59 percent decline in standalone net profit at ₹ 89.65 crore against Rs 216.24 crore in the same period last fiscal, impacted by high raw materials cost. The revenue from operations was higher at ₹ 3,649.71 crore as against ₹ 2,911.57 crore in the year-ago quarter. The cost of raw materials consumed in the second quarter went up to ₹ 2,471.63 crore against ₹ 1,527.06 crore in the same period a year ago.

    Kumar further added that normalcy in India is gradually returning post an unprecedented pandemic situation. The company is currently witnessing a steady improvement in demand momentum. He said, “The truck tires OEM demand, which was lagging, is showing promising signs of improvement. Though, the passenger car OEM demand continues to suffer due to shortage of semiconductors.”

    He also added said the demand momentum going forward for the second half of the fiscal (H2) seems to be better and further price hikes have been announced for November to counter the raw material cost-push.

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  • Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin today announced that it will be hiking tire prices in India, Africa & the Middle East region. The increase in price is effective from June 18 in India and July 1 for the Middle East region and is applicable to all Michelin Group brands. This is the second price hike this year by Michelin as the first one was made very recently in March 2021, where tire prices were hiked by 8 percent.

    In a statement by the company, it said, that it will increase its tyre prices by up to 6 per cent on passenger car, light truck and motorcycle tyres as well as up to 8 per cent on both on- and off-road commercial tyre. The hike in price has been attributed to the increase of raw material cost, global transportation cost and prevailing market dynamics

    Price changes may vary across specific products within each brand portfolio.

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  • Kumho Tire eyes expansion of Vietnam plant

    Kumho Tire eyes expansion of Vietnam plant

    South Korea’s Kumho Tire plans to invest $305 million to expand its plant in Vietnam.

    The expansion, when completed in the first quarter of 2023, is expected to nearly double the plant’s capacity to 9.3 million tires a year.

    “After considering our plans to increase exports to North America and potential U.S. anti-dumping duties, we came to the conclusion that increasing the capacity of the Vietnamese plant would be the best solution,” a Kumho executive said.

    The $200-million plant in the My Phuoc 3 Industrial Park in the southern province of Binh Duong was built in 2008 to manufacture passenger car and light truck radial tires and is the company’s only plant in Southeast Asia.

    In January, China’s Jinyu Tire invested $320 million to expand its factory in the southern province of Tay Ninh.

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  • US absolves Vietnamese tire exporters of dumping

    US absolves Vietnamese tire exporters of dumping

    The U.S. has made a preliminary determination that most Vietnamese tire exporters did not dump products in the U.S. and not subjected them to anti-dumping duties.

    Six producers and exporters of passenger vehicle tires from Vietnam, who account for over 95 percent of Vietnamese tire exports to the U.S., were found to not dump following an investigation by the Department of Commerce that began last June.

    But some other companies were hit with a 22.3 percent anti-dumping duty, with the Trade Remedies Authority of Vietnam saying it was because they did not fully cooperate with U.S. authorities.

    The U.S. has imposed duties of 13.25-98.44 percent on South Korea, Taiwan and Thailand. A final determination will be issued on May 14.

    The U.S. imported nearly $4 billion worth of tires from the four in 2019, with Vietnam accounting for $469.64 million.

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  • US claims Vietnamese tires subsidized by weak currency

    US claims Vietnamese tires subsidized by weak currency

    The U.S. has slapped preliminary countervailing duties of 6.23-10.08 percent on Vietnamese tires, alleging they are subsidized by an undervalued currency. The duties, which apply to imported passenger vehicle and light truck tires, were announced by the Commerce Department on Thursday, after United Steelworkers, a trade union with members across North America, filed a petition in May claiming domestic production was hurt by Vietnamese products.

    There will be a final determination on the case in March next year.

    This is the first time that the U.S. has imposed countervailing duties based on currency value.

    The U.S., under President Donald Trump, has in recent years been accusing Vietnam of manipulating its currency to gain an unfair trade advantage and a large trade surplus.

    Vietnamese authorities have repeatedly said their exchange rate policies are not aimed at helping exports to the U.S.

    Deputy Foreign Ministry Spokesman Duong Hoai Nam said at a press briefing Thursday that Vietnam has been following this investigation since it was launched.

    “Vietnam will continue to coordinate with U.S. authorities to clarify and better understand the situation and protect the legitimate interests of Vietnamese businesses in accordance with World Trade Organization regulations.”

    Central bank governor Le Minh Hung said last month that the country “has not intended and will not intend to use monetary policies in general and exchange rates, in particular, to create unfair competitive advantages in international trade.”

    The U.S. is also conducting anti-dumping duty investigations related to light vehicle tires imported from Vietnam, South Korea, Taiwan, and Thailand, and will announce the preliminary results next month.

    Vietnam’s passenger tire exports to the U.S rose by 14 percent last year to $469.6 million, according to the U.S. Census Bureau.

    “The Trump Administration remains vigilant against foreign actors that take advantage of American workers and businesses, and we will continue addressing this issue to ensure American industry competes on a level playing field,” Secretary of Commerce Wilbur Ross said in a statement.

    Experts have expressed concern that more countervailing and anti-dumping duties will be imposed on Vietnamese goods based on allegations of currency manipulation should Trump win the ongoing presidential election.

    The Trump administration has initiated 297 anti-dumping and countervailing investigations, a 271 percent increase from the comparable period during the previous one.

  • Yokohama Begins Tyre Production After Phase Two Expansion

    Yokohama Begins Tyre Production After Phase Two Expansion

    Yokohama India has begun manufacturing tires after the completion of its second phase of expansion. The company began its manufacturing operations in India in 2014 with an annual capacity of 0.7 million and now it has gone up to 1.6 million tires per year. The company has also strengthened its standard operating practices in a bid to facilitate smooth progress of production lines at the factory. Yokohama entered the Indian market in 2007 and achieved the 1 millionth tire production mark in 2016.

    Anil Gupta, Vice Chairman Yokohama India said, “In response to the increasing demand for Yokohama Tyres in India and keeping in mind the projected market growth, we decided to double our domestic manufacturing capacities. Incidentally, it has happened at an opportune time as restrictions on the import of tires have been announced by the government. This decision is in line with the government’s clarion call for “Atmanirbhar Bharat” – from the drawing board to the dealer shops, the new Phase-2 facility is fully equipped to meet Indian market needs.

    With technological expertise from its parent company in Japan, Yokohama now manufactures its extremely popular Geolandar A/T along with Geolandar SUV tire and the BluEarth-RV02 tire at the new facility. The company says it has several new tire models on the anvil, ready to be launched in the near future.

    The company says that the expansion will also help increase employment opportunities at the Bahadurgarh plant. At present, the plant has 500 employees and with the increase in production, the plant will require an additional 200 people. The Yokohama Club Network or YCN is a specialized sales network that aims to provide a good experience to customers at the point of purchase and India has these dealerships as well. Yokohama is the original equipment supplier to automotive brands like Audi, Mercedes-Benz, Porsche, Nissan, Honda, Suzuki, Toyota, and Mitsubishi as well.

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  • Michelin, Enviro Working On New Recycling Technique To Transform Old Tyres Into Raw Materials

    Michelin, Enviro Working On New Recycling Technique To Transform Old Tyres Into Raw Materials

    Michelin has announced entering a new partnership with Swedish start-up Enviro, to introduce a new technology to recycle end-of-life tires. Under the new partnership, the companies will work towards industrializing an innovative pyrolysis technology on a large scale to recycle old tires and convert them into raw materials. Currently, recycling is a major issue with tires, and each year, about 1 billion tires reach the end of their life and are discarded as waste. But this new recycling technology will bring them back into the equation.

    The process involves a new technique developed by Enviro that modifies the chemical composition and physical phase of the pneumatic material (tires) during the pyrolysis process while ensuring minimal energy consumption. Simply put, this technology will allow the companies to extract high-quality raw materials such as – recovered carbon black, pyrolysis oil, steel or gas from old tires. These raw materials can then be re-incorporated into various other production circuits in different industrial sectors.

    The new partnership will see both the companies bring in their expertise from different fields to deploy Enviro’s pyrolysis technology on a larger scale and build a factory to industrialize the technology. Michelin will use its industrial know-how in terms of research and development and production for the construction of the new plant, while Enviro will bring its patented pyrolysis technology, which will produce high-quality products. The location of the plant will be confirmed at a later date.

    Michelin currently holds 20 percent stake of Enviro’s capital, amounting to 32.5 million SEK or ₹ 247.4 crore, as per the current exchange rate, making it the largest shareholder in the company. There is also a joint Supply Agreement between Michelin and Enviro. Michelin says that this partnership reiterates the company’s long-term commitment to recycling and sustainable mobility.

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  • Michelin Targets 2050 To Go Carbon Neutral At All Plants

    Michelin Targets 2050 To Go Carbon Neutral At All Plants

    2019 has been one of the hottest years in recent decades, marking a new milestone in the worldwide increase in greenhouse gas emissions and extreme weather events. The transportation sector alone is responsible for 23 percent of CO2 emissions worldwide. Looking at these numbers Michelin has decided on an objective and that is all of its plants across the world will emit zero CO2 emissions by 2050. The company is also looking to reduce tire-related energy consumption per kilometer traveled by 20 percent by 2030. This strategy is in line with the Paris Agreement signed at the COP21 in 2015 to limit global warming to below 2 degrees Celsius.

    To reduce the carbon footprint of production at a global level, Michelin developed a strategy founded on two pillars: consume less, and implement an energy transition. This strategy has already had concrete and positive effects: in Europe, 85 percent of its plants are powered by electricity that is guaranteed to come from renewable sources. Between 2010 and 2018, CO2 emissions from the company’s production facilities were down by 22 percent.

    The company is looking to improve energy efficiency of its industrial tools, using more renewable energy, and eliminating coal. Currently, 5 out of 70 of the Group’s sites around the world are still coal-fired. We have already launched studies to evaluate the feasibility of replacing coal with another source of primary energy, such as gas or biomass. All our plants will phase out the use of coal by 2030 at the latest.

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  • Germany’s Continental, Jungheinrich Hit Brakes As Auto Sector Slows

    Germany’s Continental, Jungheinrich Hit Brakes As Auto Sector Slows

    A slowing auto sector prompted profit warnings from supplier Continental and paint systems producer Duerr late on Monday.Jungheinrich also lowered its outlook citing a downturn in the forklift truck  sector. It marked a fourth profit warning from Continental in 16 months, while French rival Faurecia on Tuesday stuck to its guidance. “The main reason is the continued decline in the global production of passenger cars and light vehicles,” Continental said, adding that car production will likely drop by 5% rather than remain flat.

    Despite the negative news Continental shares were up 4.6% at 0925 GMT.”The market is telling us that in the short run, the worst has been priced in,” said Evercore ISI analyst Arndt Ellinghorst.

    “The magnitude of the cut is worse than we were expecting and bodes poorly for the remainder of earnings season and 2020 outlooks.”

    Continental is due to release earnings on August 7.

    Duerr, which produces woodworking equipment and paint systems for the auto industry, said lower payment receipts from the auto sector had eaten into its free cashflow in the first half.

    The company, which is due to release first-half results on August 7, said its EBIT margin guidance of 7%-8% for 2020 is under review.

    Jungheinrich said there had been a sharp drop in customer investment.

    “This is due to the gloomier macroeconomic environment and the related current developments in the market for material handling equipment,” said Jungheinrich, which is due to release results on August 8.

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  • Giti Tire Building $560 Million Manufacturing-Distribution Campus

    Giti Tire Building $560 Million Manufacturing-Distribution Campus

    Giti Tire, the 10th largest tire company in the world based in Singapore, is on track to open its first first North American manufacturing facility on a 1,100-acre site, 170 miles northeast of Charleston, in Richburg, South Carolina.

    The company expects to invest $560 million and create 1,700 new jobs over the next decade in Chester County. The new facility, which will be located on the Carolinas I-77 Mega Site, will combine manufacturing and distribution activities, with total building area estimated to be 1.8 million square feet.

    Giti Tire will produce both passenger and light truck tires for the Original Equipment Manufacturer (OEM) and replacement markets in the Chester County plant.

    “This significant investment represents our strong commitment to customers in North America. This is a key milestone for Giti Tire and an important part of our growth strategy worldwide. Existing business and strong demand for Giti Tire’s passenger and light truck tires in North America has made this significant investment in South Carolina possible,” Enki Tan, executive chairman of Giti Tire Group said.

    During the first phase of production, the plant’s capacity is expected to be 5 million tires annually. Giti Tire plans to further increase production capacity in response to future market demand and conditions. The Chester County facility represents Giti’s ninth manufacturing plant in its global system.

    “Chester County is an excellent location for Giti Tire, offering extensive and efficient infrastructure network including interstate highways, rail, close proximity to airports and a major metropolitan area to support the company’s needs and growth for many years to come,” Lei Huai Chin, Managing Director of Giti Tire Group said.

    According to the State Department of Commerce the company’s decision to locate in South Carolina was driven by a number of factors, including the area’s workforce and training opportunities through the technical college system, proximity to major transportation infrastructure and deep-water port facilities in Charleston, market access to the growing Southeast region and the state’s business-friendly environment.

    As an incentive ready SC will be assisting the company with the recruiting and training of its initial workforce.

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