Don't be surprised if you start to see a few more Kumho tires on new vehicles, bigger vehicles and even those electrified models.
Because that's all just part of the plan. One that involves better focusing R&D and manufacturing to leverage those high-value spaces. You know: OE, SUV and EV.
And it's a growth plan that keeps North America in focus for Kumho.
"The North American market is definitely essential for Kumho Tire, as it is or should be for all global tire manufacturers that have a presence (there), because the market is one of the largest and the most trend-leading ones," Il Taik Jung, Kumho Tire Co. Inc. president and CEO, told Rubber News. "In this crucial market, we have a vision to ultimately be recognized as one of the top tier 2 tire manufacturer brands."
There also happens to be some good reason for the timing behind the plan to do that.
Coming out of the COVID-19 pandemic, Kumho experienced immense growth as the industry returned to a sense of normalcy. In 2022, for instance, the tire maker saw a 35 percent growth in revenue year-over-year, giving it a solid foundation for further growth in 2023, according to Jung.