Hankook Publishes 2022-23 ESG Report
Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.
This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.
Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.
Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.
With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.
Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.
Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.
Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.
CEAT Q2 FY27 Revenue Rises 26% to INR 47.62 Bln
- By TT News
- October 14, 2026
CEAT reported a 26 percent year-on-year increase in consolidated revenue to INR 47.62 billion in the second quarter of the 2026-27 financial year, while net profit stood at INR 1.12 billion as higher raw material costs continued to weigh on the tyre maker.
The company’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) margin was 9.5 percent, according to its unaudited results for the quarter ended 30 September.
Arnab Banerjee, Managing Director and Chief Executive, said revenue growth was supported by premium segments across business units. He added that the conflict in West Asia had kept raw material costs high, prompting the company to tighten cost controls.
CEAT expects to deliver double-digit revenue growth in the second half of the financial year, alongside further price increases, Banerjee said.
On a standalone basis, revenue rose 23 percent year on year to INR 45.48 billion. EBITDA margin was 10.14 percent, while net profit reached INR 1.64 billion.
Kumar Subbiah, Chief Financial Officer, said commodity costs were expected to remain elevated in the third quarter. The company would continue to pursue measured price increases and improve its product mix to manage cost pressures.
Subbiah said debt increased during the quarter, largely because of capital expenditure of close to INR 4.9 billion to expand capacity in areas with high utilisation, as well as dividend payments.
He added that CEAT would maintain financial discipline while investing to meet demand and support profitable growth.
Michelin Expands Delhi Presence With Dwarka And Karol Bagh Outlets
- By TT News
- October 14, 2026
Michelin has strengthened its retail presence in India by launching two Michelin Tyres & Services outlets in Delhi, located in Dwarka and Karol Bagh. The openings make Michelin's premium tyre range, including the Made-in-India Primacy 5, accessible to customers in west and central Delhi, alongside professional fitment and tyre care. The Dwarka facility was inaugurated by Benjamin Coesnon, Marketing Director India.
The Dwarka outlet, operated with Excellent Tyres, covers 1,500 sft and caters to one of Delhi's largest planned residential sub-cities and its expanding south-west corridor. Excellent Tyres, established in 1994, brings over 30 years of experience in the capital's tyre trade. Meanwhile, the Karol Bagh store, run with Rana Tyres, spans 1,000 sft in a prominent automotive trade hub. Founded in 1977 and now led by its third generation, Rana Tyres contributes nearly five decades of technical knowledge and a loyal clientele.
The expansion reflects Michelin's sustained commitment to India. Its distribution network now exceeds 800 points of sale, while over INR 28 billion has been invested in the Chennai manufacturing plant. A further INR 6.86 billion went into a passenger car tyre line that now produces the Primacy 5 for Indian buyers. The new stores aim to deliver safer, more durable and higher-performing mobility.
Shantanu Deshpande, Managing Director, Michelin India, said, " Delhi is one of the largest premium car markets in the country. Expanding our presence in Delhi will provide accessibility to today's customers and serve the next wave of premium car owners. With the Made-in-India Primacy 5 now available at these stores, customers in the capital can get Michelin's globally benchmarked safety and longevity, backed by expert service from trusted partners. India remains a key growth market for Michelin, and Delhi is central to how we continue to build our presence."
Pirelli Completes Winter Range Renewal With Scorpion Winter 3 Tyre For SUVs
- By TT News
- October 14, 2026
Pirelli has completed the renewal of its winter range with the Scorpion Winter 3, a tyre developed for SUVs in cold-weather conditions. That segment now accounts for more than half the global market and brings distinctive traits, notably greater weight and a higher centre of gravity, which demand dedicated internal structures and tread patterns.
The result is a tyre balancing performance across the many conditions of winter, from snow and wet roads to dry asphalt. It overcomes a traditional winter tyre compromise, giving SUV drivers consistent strength even in demanding situations, a claim already supported by a first independent test that ranked it best among its competitors. At launch, every size carries an A wet-grip rating on the EU tyre label, with noise between classes A and B. For the growing electric and plug-in hybrid portion of this segment, Pirelli also offers Elect technology, engineered specifically for those powertrains.
Development began with how tyres behave under heavy loads. The contact patch was redesigned to optimise pressure peaks, critical for mileage and even wear on heavy vehicles. This produced the generation's first major innovation: as the tread wears, the active edges within the contact patch, and therefore snow and wet grip, stay consistent over time. A dedicated carcass and tread design were likewise engineered for high vehicle weights.
The tread geometry adopts several Cinturato Winter 3 solutions, that tyre having recently won a test by the independent German association ADAC. These include a zigzag central groove for water evacuation and lateral snow grip, patented Snow Keeper Teeth that retain snow in the grooves to exploit snow-on-snow contact, and a high void ratio that aids snow and wet performance while countering aquaplaning. SUV-specific additions include stiffer tread blocks for handling and wear resistance under load, plus calibrated sipe density to preserve dry-road behaviour.
The compound draws on P Zero Winter 2 experience, using specific polymers such as Dual-Core Polymer, whose dual mechanism improves grip across conditions, while plasticisers broaden the operating temperature range. Engineers at Bicocca made extensive use of advanced Virtual Development techniques, simulating variables for precise results while cutting development time and prototypes, and driving simulators from static to dynamic helped target dry handling and enjoyment. The Pirelli Sottozero Center in Swedish Lapland enabled year-round snow and ice testing, partly indoors.
Launching in 30 sizes from 18 to 22 inches, the tyre offers Elect technology, which can raise electric and plug-in hybrid range by up to 10 percent, the Pirelli Noise Cancelling System that reduces perceived cabin noise via internal sound-absorbing material and Seal Inside for pressure retention after external punctures. It joins the Scorpion family begun in 1986 for high-riding vehicles and first fitted to the Lamborghini LM002, now spanning summer, winter and all-season road and off-road products with a strong original equipment focus. It adds to more than 1,200 homologations, including bespoke work for Aston Martin, Porsche, Lamborghini, Lotus, Audi, BMW, JLR and NIO. With winter tyre or snow chain rules starting 15 November, it completes a Winter range fully renewed over two years, alongside P Zero Winter 2 and Cinturato Winter 3.
Tyres Europe Among 44 Signatories Demanding Sharper EU Trade Defence
- By TT News
- October 14, 2026
Tyres Europe has joined 44 European organisations in backing a joint statement spearheaded by European Metals, which urges EU Member States to endorse a more rapid and robust application of the bloc’s trade defence arsenal. The statement advocates for extra personnel within DG TRADE’s trade defence units and greater reliance on existing instruments while pressing the Commission to introduce a fresh policy toolkit targeting state-driven market distortions.
For the tyre industry, these concerns carry direct consequences. European tyre production remains capital-intensive, encompassing over 70 plants, including retreading operations, alongside roughly 20 research and development centres. Of the 398 million tyres newly fitted across the EU in 2024, approximately 40 percent originated beyond the Union’s borders. In recent tyre proceedings, trade patterns evolved more swiftly than the EU could respond, both prior to and following the imposition of measures.
On 5 October, Tyres Europe published its position paper, ‘Towards a more effective EU Trade Defence Policy’, outlining its recommendations. Mirroring the joint statement, the paper requests additional resources for DG TRADE and advocates launching work on a new instrument designed to tackle systemic distortions.
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