April 20, 2024

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[THE INVESTOR] Hankook Tire said on Oct. 22 that it has begun to supply its ultra high-performance tires to Volkswagen’s Tiguan R-Line package.

The tire maker said it began to supply the all-season tire, the Ventus S1 noble2, as original equipment tires to the VW’s sport utility vehicle in March this year.

The firm has maintained a strategic partnership with the German carmaker since 2001, when it started outfitting the Jetta sedans.

Supplying original equipment tires to car manufacturers does not generate much revenue for tire makers, but securing big companies as clients helps improve their brand images and raise product prices down the line.

For tire makers, it is more profitable to sell replacement equipment tires in after-sales markets.

Hankook Tire shipped products to foreign carmakers, such as Audi, BMW, Mercedes-Benz and Porsche, as part of its efforts to enhance its global brand image.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)