ZC Rubber has successfully commenced production of its first all-terrain vehicle (ATV) tyre at its Indonesian subsidiary, PT. Matahari Tire Indonesia (MTI), marking a strategic expansion into specialised mobility segments.

MTI’s state-of-the-art factory, covering 500,000 square metres, is strategically located in a region rich in natural rubber resources. Equipped with advanced digital technology and staffed by a highly skilled workforce, the facility is poised to meet the growing demand for high-quality tyres in both local and international markets, including the United States.

ZC Rubber’s investment in Indonesia provides access to vital raw materials and strengthens its global supply chain. The facility is poised to serve both local needs and support ZC Rubber’s international market expansion, reinforcing the company’s commitment to innovation, quality, and sustainable development.

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Nova Motorsport has solidified its position within historic motorsport by agreeing a significant long-term contract extension with Peter Auto, a leading organiser in the field. This renewed agreement reinforces the British brand’s status as a principal technical collaborator, now with an expanded scope of official supply duties.

Under the terms of the multi-year deal, Nova Motorsport will continue as the exclusive tyre provider for several of Peter Auto’s premier series, including Group C Racing, both Classic Endurance Racing categories (CER1 and CER2) and the 2.0L Cup. The partnership has been formally broadened to now also encompass the Sixties’ Endurance series, a key addition to its portfolio. This season for Sixties’ Endurance is set to run from the Espíritu De Montjuïc event in late March through to the HSR Daytona Classic 24 Hour in November.

The arrangement is a cornerstone of Nova’s historic racing programme, underlining its dedication to supplying proven Avon Motorsport tyre products across Europe’s most esteemed historic platforms. This capability is underpinned by the intellectual property and experienced technical team that transferred to Nova following its 2024 acquisition of Avon Motorsport’s assets from Cooper Tire. Logistical and trackside support for competitors will once again be managed by Peter Auto’s exclusive service partner Sodipneu.

By extending and deepening this relationship, Nova Motorsport strengthens its commitment to the historic endurance racing community. The partnership is poised to support the continued growth and international prestige of Peter Auto’s renowned series, placing Nova at the very heart of the discipline.

Daniel Stanton, Head – Sales and Marketing, Nova Motorsport, said, “We are proud to extend our longstanding partnership with Peter Auto, one of the most respected names in the historic and classic automotive racing community, through a new long-term agreement. This relationship marks the successful transformation of Avon Motorsport into Nova Motorsport, as Peter Auto enters the ASO/ACO era under the leadership of Marc Ouayoun. Historic motorsport sits at the heart of the Nova Motorsport business, and partnering with Europe’s premier historic race championships is the perfect expression of that focus. Adding the Sixties’ Endurance series, which concludes with the HSR Daytona Classic 24 Hour at Daytona Speedway in November, to the Nova Motorsport portfolio accelerates our core strategy and further aligns with our growth targets for the Nova Motorsport brand and Avon and Nova tyre products in North America.”

Marc Ouayoun, Managing Director, Peter Auto, said, “We are delighted to continue and expand our partnership with Nova Motorsport. This collaboration reflects a shared vision based on technical excellence and reliability to ensure authentic and competitive racing across all our series. This partnership also highlights our commitment to historic motorsport and its development, both in Europe and internationally.”

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Goodyear has reached a significant milestone in its global sustainability strategy with the completion of a major solar installation at its Kunshan facility. The 12.3 MW on-site project, which was finished in May 2025 and became grid-connected the following month, supplied 10 percent of the plant's power needs for the remainder of the year. Looking ahead, it is projected to account for more than 12 percent of annual electricity consumption. The system is designed to generate roughly 11,500 MWh of power each year, resulting in an estimated reduction of 7,500 metric tonnes of carbon emissions annually over its 25-year lifespan.

This advancement reinforces the company’s commitment to securing 100 percent renewable electricity for its manufacturing operations by 2030 and achieving total renewable energy use by 2040. Within the Asia Pacific region, cumulative solar investments now contribute more than 40 MW of on-site renewable capacity. Beyond the numbers, the project exemplifies a broader dedication to operational excellence and environmental stewardship, showcasing how innovation can drive meaningful progress towards a cleaner energy landscape.

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NEXEN TIRE has inaugurated the Purple Snow Ivalo Center, a new facility in Ivalo, Finland, specifically designed for the development and testing of winter and all-weather tyres. The launch event brought together the company’s Chief Technology Officer, Jong Myung Kim, and members of the European automotive media, who were able to witness the centre’s advanced capabilities firsthand. This included test-driving winter tyres and touring both the indoor and outdoor testing areas managed by UTAC, Europe’s premier automotive testing organisation, within whose expansive proving ground the new centre is situated near the Arctic Circle.

The establishment of this dedicated facility marks a significant step in the tyre manufacturer’s strategy to enhance its winter tyre research and development. It complements internal efforts such as a specialised laboratory focused on winter road surface characteristics. The newly secured proving ground, under a long-term lease, features a variety of snow handling tracks, including a large flat circuit and courses with different gradients and curves. This real-world testing environment is particularly crucial as several major European countries, including Germany, Italy and Sweden, now mandate the use of winter tyres bearing the Three-Peak Mountain Snowflake symbol. With Europe representing over 40 percent of the company’s revenue, strengthening competitiveness in this market is paramount.

A key advantage of the Ivalo location is its capability to test studded tyres, which are essential for the icy conditions found in Northern Europe, allowing for a more strategic response to regional demand. Beyond immediate testing, the centre serves as a vital link between virtual simulation and physical validation. Following the introduction of a high-dynamic driving simulator, the first in the Korean automotive industry, the company can now instantly verify its performance predictions with on-snow driving tests. This integration is expected to accelerate the advancement of AI-driven virtual development technologies and create new opportunities for original equipment projects, thereby strengthening the foundation for producing high-performance tyres.

This new testing infrastructure is one component of a broader market approach. Complementing the facility’s opening, NEXEN TIRE has been actively expanding its product portfolio. Recent additions include the WINGUARD Sport 3, launched in Europe last year, and the ongoing expansion of the N’BLUE 4Season 2 lineup, an all-weather tyre engineered to satisfy winter tyre requirements.

John Bosco (Hyeon Suk) Kim, CEO, NEXEN TIRE said, “This testing centre brings together a uniquely favourable northern European location with a long winter season and the operational expertise of a leading testing specialist. It will serve as a key hub for advancing our research and development capabilities for winter and all-weather tyres. Based on this foundation, we will continue to enhance our testing and research capabilities in line with the requirements of the European and global markets and further strengthen our competitive position.”

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Apollo Tyres will invest INR 58 billion over three years to expand passenger car and truck tyre capacity at its Andhra Pradesh plant, as utilisation in India moves into the high 80s and truck and bus radial lines approach full capacity.

The board has approved the capital expenditure for financial years 2027 to 2029, with about INR 20 billion scheduled for FY2027. Total consolidated capex in FY2027 is expected to be about INR 30 billion, including roughly INR 7 billion of maintenance and operational spending and ongoing expansion in Hungary.

Neeraj Kanwar, Managing Director And Vice-Chairman, said the company was “running at close to 100 percent utilisation” in truck and bus radial tyres and was seeing shortages in truck, passenger car and farm segments.

For the quarter ended December 2025, consolidated revenue rose nearly 12 percent year on year to INR 77.4 billion, the highest quarterly revenue on both a standalone and consolidated basis, the company said. EBITDA stood at INR 11.9 billion, with a margin of 15.3 percent, compared with 14.9 percent in the previous quarter and 13.7 percent a year earlier.

In India, revenue was INR 51.4 billion, up more than 13 percent, with mid-teens volume growth in OEM and replacement channels and exports growth just short of 20 percent. The company said utilisation across India operations was in the high 80s for both passenger car radial and truck and bus radial tyres.

In Europe, revenue was €180 million, broadly flat year on year, reflecting a subdued market. The European passenger car replacement market declined 4 percent in the quarter. EBITDA in Europe was €32 million, with a margin of 17.9 percent, compared with 17.7 percent a year earlier and 12.7 percent in the preceding quarter.

In Europe, the group will close its Enschede plant in the Netherlands by the end of June 2026. Production is being transitioned to Hungary and India. Management expects the benefits of the restructuring to begin flowing through from the second half of FY2027, although it declined to provide margin guidance.

The India expansion will lift passenger car tyre capacity by 10,500 tyres per day from an existing base of about 58,000 tyres per day, an increase of 17–18 percent. Truck and bus radial capacity of more than 15,000 tyres per day will rise by 3,600 tyres per day, or more than 20 percent. Some capacity will come on stream in FY2028, with the full benefit expected by FY2030.

Gaurav Kumar, Chief Financial Officer, said the expansion equates to roughly INR 170 million per metric tonne of added capacity, compared with INR 115-120 million per tonne in the previous Andhra investment in FY2021. The increase reflects “inflationary pressures” and the adoption of “state-of-the-art” technology to cater to global OEMs in India, Europe and the US.

He added that the decision marked a shift from incremental debottlenecking to larger civil construction. “We reached a stage where we could not further increase the capacity by line balancing and hence, any further increase in capacity needed civil,” Kumar said.

The company expects to take on some additional debt during the capex cycle. Consolidated net debt fell to INR 13 billion at the end of December 2025, from INR 26 billion at the end of September, driven by lower short-term borrowings and stronger operational cash flow. Net debt to EBITDA declined to 0.4 times from 0.8 times.

Kumar said net debt to EBITDA would remain below the long-term ceiling of 2.0 times “even at the peak levels” of capex.

Return on capital employed is running at 13.5 percent, below the 15 percent target previously outlined by the group. Management said it would revisit capital allocation and return metrics as it formulates a new five-year plan to March 2031.

On raw materials, the company expects costs to remain steady in the fourth quarter. In the December quarter, natural rubber was about INR 195 per kg, synthetic rubber INR 170 per kg, carbon black INR 115 per kg and steel cord about INR 155 per kg.

Apollo does not hedge rubber or crude oil. “We came to the conclusion to stay away from rubber or crude oil hedging,” Kumar said. Foreign currency borrowings are fully hedged, while operational exposure in India is hedged between 75 percent and 100 per cent.

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