Hankook Tire & Technology (Hankook Tire) is all geared up to showcase its excellence at the 2025 Hankook Shanghai E-Prix, a double-header event in the 2024/2025 ABB FIA Formula E World Championship, with its GEN3 Evo iON Race tyres.

The Hankook GEN3 Evo iON Race tyre was created specifically for Formula E's state-of-the-art GEN3 Evo race vehicles. Its unique rubber compound and innovative tread profile maximise grip, cornering performance and heat management in challenging urban layouts. The GEN3 Evo iON Race tyre is also made out of 35 percent sustainable materials, which is in keeping with Formula E's sustainability goals. All tyres are gathered and treated after the event, demonstrating the company's dedication to environmental stewardship and circularity. The tyres are made to last for the whole weekend.

With back-to-back races on 31 May and 1 June, the 2025 Hankook Shanghai E-Prix, which is making its debut as a championship event in Shanghai, doubles the excitement. This year's doubleheader, which will take place at the storied Shanghai International Circuit, promises to be an incredible display of technical expertise and spectacular action. The 3.051-kilometre course requires drivers and teams to manage tyre longevity, grip and temperature. The dynamic character of the course necessitates complete control, flexible tactics and optimal tyre performance throughout the race weekend due to its strong braking zones and sweeping turns.

Manfred Sandbichler, Senior Director of Hankook Motorsports, said, "The Shanghai International Circuit presents unique challenges with its combination of high-speed straights and technical corners that truly test our tyre technology. Our GEN3 Evo iON Race tyre delivers not just speed but also the adaptability, reliability and control that drivers need on such a demanding track, continuing to set the standard for electric vehicle racing worldwide."

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Tyre maker faces headwinds from low-cost imports but exceeds transformation goals

Goodyear Tire & Rubber reported an adjusted net loss for the second quarter, citing challenges from global trade shifts and a surge of low-cost imports across key markets. However, asset sales helped boost overall revenue.

The Akron, Ohio-based tyre maker posted an adjusted net loss of USD 48 million, or 17 cents per share, compared with adjusted net income of USD 48 million, or 17 cents per share, in the same period last year.

Net sales for the quarter totalled USD 4.5 billion with tyre unit volumes of 37.9 million. The company reported net income of USD 254 million, or 87 cents per share, compared with USD 79 million, or 28 cents per share, a year earlier, boosted by significant one-off gains.

“The second quarter proved challenging in both our consumer and commercial businesses, driven by industry disruption stemming from shifts in global trade - including a surge of low-cost imports across our key markets,” said Chief Executive Mark Stewart.

The results included a pre-tax gain of USD 385 million from the sale of the Dunlop brand to Sumitomo Rubber Industries in May, alongside rationalisation charges of USD 59 million and USD 5 million in transformation costs.

Segment operating income fell to USD 159 million from USD 334 million a year ago. After adjusting for the February sale of its off-the-road tyre business, segment operating income declined by USD 152 million, primarily due to higher raw material costs.

The company’s Americas division, its largest segment, saw net sales drop 1.3 percent to USD 2.7 billion with tyre unit volumes down 2.6 percent. Segment operating income fell to USD 141 million from USD 241 million the previous year, hurt by higher raw material costs and inflation.

In Europe, Middle East and Africa, the company posted a segment operating loss of USD 25 million compared with income of USD 30 million last year, despite net sales rising 5.1 percent to USD 1.3 billion.

Asia Pacific recorded the steepest decline, with net sales falling 22.7 percent to USD 459 million and tyre unit volumes dropping 15.6 percent, affected by the OTR business divestiture and actions to reduce lower-margin business outside China.

Stewart expressed confidence about prospects, stating: “We expect conditions to stabilise in the coming quarters, and we see a clear opportunity ahead as we capitalise on our strong U.S. manufacturing footprint.”

The company continues to execute its “Goodyear Forward” transformation plan, reporting USD 195 million in benefits during the quarter. The programme has generated USD 905 million from the February sale of its OTR business to Yokohama Rubber and USD 735 million from the Dunlop brand sale.

Goodyear has also agreed to sell the majority of its chemical business to an affiliate of Gemspring Capital Management for an undisclosed sum, with the transaction expected to close in late 2025.

“We continue to expect to exceed the original goals for Goodyear Forward both in terms of cost savings and proceeds from asset sales,” Stewart added.

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Goodyear celebrated the 100th anniversary of Goodyear Blimp with an unforgettable milestone – hosting the world’s first high-altitude Pokémon battle aboard the iconic Wingfoot Three blimp, soaring 1,000 feet above Los Angeles.

Partnering with GameStop, the event featured popular YouTuber Casey Neistat battling on ModRetro’s Chromatic handheld, a retro-inspired console developed by Oculus VR founder Palmer Luckey. Joining as special guest trainers were Luckey himself, ModRetro CEO Torin Herndon and GameStop’s Head of Social Media, Joe Fonicello.

The historic clash blended gaming, aviation and pop culture, with highlights shared across social media afterward. As part of Goodyear Blimp’s yearlong centennial festivities – officially recognised on 3 June 2025 – the event showcased the brand’s legacy of innovation. Fans can expect more thrilling collaborations and aerial spectacles as the anniversary celebrations continue, reinforcing Goodyear’s enduring influence in both technology and entertainment.

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Indian tyre maker sees steady growth despite European challenges

Apollo Tyres reported a four percent increase in first-quarter revenue to INR 65.61 billion, driven by steady growth in its Indian operations whilst European divisions faced challenging market conditions.

The Gurugram-based tyre manufacturer said consolidated revenue for the three months ended 30 June rose from INR 63.35 billion in the same period last year. However, operating profit declined to INR 8.68 billion from INR 9.09 billion.

Net profit jumped to INR 3.81 billion from INR 3.02 billion the previous year, excluding an exceptional restructuring cost of INR 3.69 billion that the company disclosed separately.

The results come as India’s tyre industry navigates mixed demand patterns, with the aftermarket segment showing particular strength whilst original equipment manufacturers face varied demand from automobile producers.

“This quarter’s results reflect solid execution and a focus on profitable growth,” said Onkar Kanwar, chairman of Apollo Tyres. “It’s encouraging to see Indian Operations performing in line with expectations -- driven particularly by strong momentum in the aftermarket segment.”

Kanwar said the quarterly performance demonstrated “the resilience of our business model and our ability to create long-term value for shareholders.”

The European operations faced what the company described as traditionally one of their seasonally weaker quarters, though management said performance was solid given challenging market conditions across the region.

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Germany's rubber industry faces growing challenges due to high energy costs, threatening its long-term competitiveness. The German Rubber Industry Association (wdk), alongside other mid-sized industrial sectors within the ‘Alliance for a Fair Energy Transition’, is pushing for immediate government action to introduce a competitive production electricity price. This measure aims to stabilise energy expenses and protect domestic manufacturers from losing ground in global markets.

Current relief policies disproportionately favour large-scale consumers, leaving small and medium-sized enterprises at a disadvantage with higher electricity rates. The wdk emphasises that an effective industrial electricity price must include cost caps, broader eligibility criteria and simplified access – addressing existing shortcomings where support has been insufficient, overly complex and burdened by bureaucracy.

Separately, the association highlights the need for a distinct decarbonisation electricity price to support industrial transformation toward climate-neutral production. This initiative should extend to more businesses, ensuring long-term investment security in electrification projects spanning at least a decade.

However, European Commission regulations, particularly the CISAF framework, currently limit national flexibility in implementing such relief measures. The wdk urges the German government to advocate for reduced bureaucratic hurdles, faster approvals and expanded EU aid frameworks to enable timely support for energy-intensive industries. Without swift intervention, the sector warns of irreversible damage to regional economic stability.

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