Unveiled in conjunction with last week’s World Environment Day, Hankook Tire is implementing a 350 percent increase in the amount it plans to spend for research and development of tire technology that’s more environmentally friendly – amounting to more than $19 million annually. “As Hankook looks to continue its growth globally, and in the U.S. market in particular, we realize our products moving forward need to deliver further fuel efficiency benefits to meet our customers’ needs,” says Greg Pae, president of Hankook Tire America Corp. “Our Technical Center in Akron, Ohio, works closely with Hankook’s main R&D facilities in Korea to develop leading-edge technologies that will ultimately deliver the environmentally friendly tires more and more consumers will demand,” he explains. The company consistently re-invests 5 percent of its revenues into R&D for future products, according to Pae. As gas prices hit $4 a gallon in the U.S. and recent announcements of OE truck and SUV production facility closings, fuel economy will continue to factor into American consumers’ buying choices for the long-term, Pae points out. “All of the products we currently market in North America are designed and manufactured with the goal of keeping rolling resistance at a minimum,” says Bill Bainbridge, director of brand communications. “Lower rolling resistance translates into fuel economy. Helping consumers lower their annual vehicle operating costs while minimizing the release of CO2 emissions is a responsibility that we gladly accept,” he adds. Hankook has spent nearly $17 million on environmentally based tire technology over the past two and a half years, and the company’s new financial focus will annually free-up about 350 percent more funds for environmental technology research. “This investment is about making a serious improvement upon the current strides we have made into researching the effects of tires on the environment and developing tires that are more beneficial for the environment without sacrificing quality and performance,” says Hwi Joong Kim, a senior Hankook executive. “Technology is at the heart of everything we do, and this investment represents our commitment and desire to lead the creation and development of next generation, high-performing environmental tires.” The company officially launched its new environmentally friendly tire called the enfren in Korea earlier this year, and is considering introducing the tire into other markets. The enfren combines a number of technologies, including a special silica compound and structural design efficiencies to enhance the tire’s rolling resistance and performance while helping to reduce both energy consumption and CO2 emissions, according to Kim. Last month, Hankook’s Optima 4S in Europe became the only tire in the world to obtain Germany’s prestigious eco-label known as the Blue Angel, he reports. For more information, visit www.hankooktire.com. |
