Hankook Tire secures exclusive contract from Chinese bus company

By Lim Chang-won Posted : January 22, 2018, 16:28 Updated : January 22, 2018, 16:28

[Courtesy of Hankook Tire]

SEOUL, Jan. 22 (Aju News) --  Hankook Tire, a major South Korean tire maker, has secured an exclusive three-year contract to provide city bus tires to Guangzhou Jumbo, a Chinese private transport company.

Hankook Tire said its memorandum of understanding (MOU) with the Chinese company would help secure a stable distribution network in the world's largest auto market, which is leading the way in transforming urban transportation.

Hankook Tire said it was selected as a business partner for Guangzhou Jumbo's project to convert its LNG-powered buses into electric ones in Guangzhou in the next three years. The Chinese company had maintained ties with foreign and domestic tire companies.

Hankook Tire, which has plants in South Korea, China, Hungary, Indonesia and the United States, vowed to expand its strategic partnership with Chinese companies, especially in the electric bus tire market.
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