Hankook Tire to Expand Tennessee Plant in the U.S.

Annual Production Capacity Increased from 5.5 Million to 11 Million Units

[Asia Economy Reporter Yu Je-hoon] Hankook Tire is planning to expand its factory in Tennessee, USA.

Hankook Tire announced on the 15th that it plans to proceed with the second phase expansion of its Clarksville factory in Tennessee, USA, aiming for completion between 2023 and 2024.

Hankook Tire will first invest 100 billion KRW in the factory expansion this year, with the remaining investment funds to be sequentially投入 from next year. Once the expansion is completed, the annual tire production capacity of the Tennessee factory will increase from 5.5 million to 11 million units, approximately doubling.

A Hankook Tire official stated, "We are positively considering the factory expansion to respond to the growing demand for new cars in the North American market and to diversify our global production portfolio."

This content was produced with the assistance of AI translation services.