HS Hyosung Advanced Materials to Establish First Tire Cord Plant in India

Established in the Nagpur Industrial Complex, Maharashtra, India

HS Hyosung Advanced Materials plans to strengthen its global market competitiveness by establishing HS Hyosung India Private Limited in Maharashtra, the state with the highest gross domestic product (GDP) in west-central India.

HS Hyosung Advanced Materials Tire Cord. HS Hyosung Advanced Materials

On November 12, HS Hyosung Advanced Materials announced through a regulatory filing that it will invest 30 million dollars (approximately 43 billion won) to establish a local subsidiary in India for tire cord production. This investment aims to proactively respond to the growing global demand for polyester tire cords and to diversify production sites.

India is rapidly emerging as the world’s third-largest automobile market, and tire demand is rising quickly due to the government's infrastructure expansion and the development of the logistics industry. As a result, local demand for tire cord procurement is also steadily increasing. Through this investment, HS Hyosung Advanced Materials plans to establish a stable supply chain in India and expand its market share, thereby building a foundation for agile responses to the rapidly changing market.

HS Hyosung Advanced Materials has secured a production site of approximately 230,000 square meters in the Nagpur industrial complex in Maharashtra, India, and plans to complete the tire cord factory and begin production in 2027. The company is also considering a phased expansion of production lines for its core product range, such as airbag fabrics, in the future.

Tire cord is a key reinforcement material inserted inside automobile tires to enhance their safety, durability, and drivability. HS Hyosung Advanced Materials has maintained its position as the world’s leading polyester tire cord manufacturer for over 20 years and currently holds about 50 percent of the market share.

In addition, the company has established a stable supply chain centered on global production bases in Vietnam, China, and the United States, and provides customized technical solutions through joint research and development (R&D) with major clients. Recently, to respond to the evolving mobility market, including electric vehicles, HS Hyosung Advanced Materials has developed a variety of products such as high-strength tire cords for weight reduction and high-modulus tire cords for improved tire performance, earning strong trust from global customers.

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