Hankook begins expansion of Hungarian plant
Hankook has officially begun expanding its plant in Hungary. Construction work is planned to be completed by 2027, and the facility will be equipped with a new production line for truck and bus tires with a capacity of up to 800,000 units per year.
In the future, the Hungarian plant will produce premium truck tires for long-haul transportation SmartLine AL 50/DL 50 and SmartFlex AL 51/DL 51, as well as models from the new e-SMART line, designed specifically for use on electric trucks. Overall, the facility will be able to meet demand in the European market for truck tires for all applications, from construction sites to winter conditions.
"We are very pleased with the progress we have made. Having received all the necessary permits, we were able to start construction according to our plans, and now preparatory work is underway," said Chonho Pak, President and COO of Hankook Tire Europe. "After installing the new production line, we will start producing truck and bus tires in Europe for the local market, which will reduce our transportation routes. With these investments, we are expanding our presence in Europe and creating new jobs."
The Hankook plant in Hungary has been in operation since 2007, and the company considers it a strategically important element of its development strategy in the European market. Currently, the facility is capable of producing up to 17 million tires for passenger and commercial vehicles per year, and it is also planned to introduce the latest technologies, such as 3D printing of molds, and expand the use of recycled materials and renewable resources. Previously, the plant received the International Sustainability & Carbon Certification (ISCC) Plus certificate, which confirms the company's effectiveness in reducing environmental damage.
By 2027, the production expansion project will invest around €540 million, and the plant's workforce will increase by 540 people. Currently, Hankook owns eight production sites in different countries of the world, which are capable of producing a total of around 100 million tires per year.