Hankook commences expansion of its European plant

February 28, 2025

Neu-Isenburg, Germany, February 26, 2025 – Premium tyre manufacturer Hankook has broken ground on the expansion of its European production plant in Rácalmás, Hungary (It is located on the right bank of the Danube, approximately 61 kilometers south of Budapest and 4 kilometers north of Dunaújváros). The building phase, which is scheduled for completion in 2027, will culminate in a new production line for truck and bus tyres at the site, with a capacity of up to 800,000 units per year.

From left: Jang Hyuk Moon, Vice President Marketing Department, Hankook Tire Europe GmbH; Ho Taek Lim, Managing Director Hankook Tire Hungary Ltd.; Péter Lantos, Team Manager Production Innovation Team, Hankook Tire Hungary Ltd.; Jongseon Ahn, President Hankook Tire & Technology; Tamás Fridrich, Deputy Project Leader Factory Expansion Task Project, Hankook Tire Hungary Ltd.; Min Soo Choi, Project Leader Factory Expansion Task Project, Hankook Tire Hungary Ltd.; Hyung-min Yoo, Vice President Corporate Strategy & Innovation Department, Hankook Tire & Technology; Joon Ki Kim, Project Design & Construction management / Factory Expansion Task Project, Hankook Tire Hungary Ltd.

In the future, the new facility will produce Hankook’s premium products for long-haul and mixed application, SmartLine AL/DL 50 and SmartFlex AL/DL 51, as well as tyres from the new e-SMART series, specifically designed for electric commercial vehicles. In addition, the production line will enable Hankook to meet the needs of customers in Europe with further products for all areas of application, from long-distance and regional transport to construction site and winter use.

“We are very happy with the progress so far. After getting necessary approvals, we were able to commence the building works as planned and preparatory soil construction is underway,” says Jongho Park, President and COO of Hankook Tire Europe. “Once the new production line is complete, we will be manufacturing truck and bus tyres for the European market in Europe, which will shorten our transport routes. With the investment, we are strengthening the European business location and creating more jobs,” he continues.

*Hankook Tire Europe, Rácalmás Plant (2023_11_23)*

The tyre plant in Hungary has been in operation since 2007 and is a strategic pillar for Hankook’s expansion in Europe. The European plant with its state-of-the-art production systems currently boasts a production capacity of 17 million tyres for passenger cars and light commercial vehicles. The new facility will also employ the latest technologies in tyre production, such as sustainable, renewable and recycled materials as well as 3D additive manufacturing for tread moulds. The Hungarian plant attained the coveted ISCC PLUS certification (International Sustainability & Carbon Certification), which underlines the sustainability of the production site’s overall approach.

Hankook is investing around 540 million Euro until 2027 in the expansion project, which will also create 450 new jobs. At present, Hankook has eight production sites worldwide with a total capacity of about 100 million tyres per year.

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About Hankook

Hankook Tire manufactures innovative, high-performance tyres for passenger cars, SUVs, light trucks, RVs, trucks, buses, and motorsports. With five R&D centres and eight production facilities worldwide, Hankook continuously invests in research and development to offer the highest level of quality and driving satisfaction. The company employs around 20,000 people globally and sells products in over 160 countries. Hankook Tire has been the exclusive tyre supplier for the ABB FIA Formula E World Championship since 2023. Leading car manufacturers rely on Hankook tyres for original equipment. More than 38 percent of global sales are generated in Europe.

Hankook’s European headquarters are located in Neu-Isenburg, Germany. At its European Technical Centre in Hanover, Germany, and its manufacturing site in Rácalmás, Hungary, Hankook develops and produces bespoke tyre solutions for the European market.

Source: Hankook Tire Europe GmbH