Chairman Cho Hyun-beom: "Double or More Tire and Battery Production in the US"... Responding to Trump Era Policies

Management Innovation and Regional Strategy Meetings Held Over the Past Month
Strengthening the Premium Tire Lineup
Advancing the Global Battery Business

Cho Hyun-beom, Chairman of Hankook & Company Group, expressed his determination to more than double tire and lead-acid battery production in the United States to proactively respond to the policies of the second Trump administration.

On the 26th, Hankook & Company Group announced that it had held consecutive management innovation and regional strategy meetings at its headquarters in Pangyo, Gyeonggi Province, over the past month to share this plan. At the meeting, Chairman Cho ordered an expansion of U.S. production to address global tariff risks, strengthening of the premium tire lineup, and advancement of the global business in the battery (lead-acid battery) sector.

Chairman Cho emphasized, "We are closely monitoring the Trump administration's policies and preparing various proactive countermeasures. As a company possessing core national technologies, we will focus on the 'rapid execution' of strategies to contribute to strengthening national competitiveness and enhancing our status."

Cho Hyun-beom, Chairman of Korea & Company Group. Provided by Korea & Company Group

Hankook & Company has chosen the lead-acid battery business as one of the group's future core strategic areas. The lead-acid battery business served as a cash cow last year, accounting for 70% of the holding company's sales. This year, the company is focusing on the U.S. market. It plans to more than double the production capacity of its Tennessee plant from the current 1.5 million units annually and increase production of premium lead-acid AGM batteries to 5 million units by 2030.

Hankook & Company also plans to expand high value-added business centered on the U.S. in its core tire business. Aligning with the automotive market's shift toward electrification and sport utility vehicles (SUVs), the company aims to maintain leadership in the electric vehicle-exclusive tire and high-performance premium tire markets. To respond to tariff risks in the U.S. market, it is pursuing a plan to more than double tire production at the Tennessee plant. The current annual production scale of 5.5 million units is planned to be expanded to approximately 12 million units by the end of this year.

At the same time, the company unveiled a roadmap for price management and distribution network optimization. Hankook & Company Group plans to introduce a price monitoring system by country and region and implement locally tailored distribution strategies. The markets targeted for distribution network expansion include Australia, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam.

A Hankook & Company official said, "Based on the optimization of Hankook Tire’s technology, production, distribution, and branding strategies, as well as investments in the battery market, we will solidify our position as a global high-tech company."

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