By Denna Bowman
Hankook has secured a major contract to begin supplying tyres to the luxury car manufacturer Daimler.
The South Korean company, the seventh-largest tyres maker in the world, already supplies BMW and Volkeswagen.
Jin-Wook Choi, Hankook Tire president and CEO for Europe, was quoted by German newspaper Handelsblatt, as saying: “Hankook has an ambitious goal. We want to penetrate the top bracket of the leading worldwide tyre manufacturers. At present we are globally in seventh place and ranked sixth in Europe.
“We are making further progress in the premium market,” Choi continued. “Along with BMW we have now won a further manufacturer as customer.”
According to The Handelsblatt says “industry circles” have confirmed Hankook’s link with Daimler. In addition to the two German prestige manufacturers, Hankook also supplies Volkswagen with original equipment tyres.
Choi points out that Hankook enjoys a price advantage of “around 15 per cent” over the leading European tyre makers, yet the Handelsblatt observes that the Korean still lacks a suitable brand image in Europe.