Hankook Tire to add truck and bus tire production line to its European plant

- Board of Directors approved a proposal to build a new truck and bus tire production line its European production plant in Rácalmás, Hungary on November 23
- Hankook plans to invest EUR 540 million by 2027, obtaining 800,000 units capacity per year upon completion

Seoul, Korea, November 23, 2023 – Global leading tire company Hankook Tire will be newly adding truck bus radial production line to its European Plant. This expansion proposal for a new Truck Bus Radial (TBR) production line at the Rácalmás plant in Fejér County, Hungary, has been approved by the Board of Directors on November 23.

Hankook Tire's Rácalmás plant was completed in 2007 and has served as an outpost for the company's European expansion. The European plant, which has completed its third phase of construction, is equipped with state-of-the-art manufacturing facilities that can produce 17 million passenger car and light truck (PCLT) tires annually. The same production plant has also attained the prestigious International Sustainability & Carbon Certification (ISCC) PLUS certification this year.

Hankook Tire will invest approximately EUR 540 million in the project with target completion by 2027. The expansion will create about 450 new jobs. The Rácalmás plant is estimated to produce 2,380 units of TBR products daily, with a total annual estimate of 800,000 units upon completion. The Hankook Tire currently has eight production sites around the world with global capacity total of about 102 million tires per year.