Apollo secured 300 million euros financing for its Greenfield plant in Hungary, on which construction started in April 2015, bringing total investment to 475 million euros. The first product is expected to roll out in early 2017 and the facility will create approximately 1,000 jobs in the country. Commenting on the closure of the financing, K. Prabhakar, managing director of Apollo Tyres, Hungary said, “We thank our consortium partners who provided appropriate solutions to the specific financing needs for the project and facilitated a smooth execution.”
In order to further incentivise supportive dealers, Hankook Tyre UK has launched a new courtesy car scheme across its national retail network. Selected dealers have been given dual-branded Hyundai i10s to use as courtesy cars over a two-year period; in addition to the extra convenience this offers, dealers will benefit from the cars’ second function as ‘mobile billboards’ that advertise their services when on the road in the local area.
Through its Incubator Office, Michelin has invested in a start-up in China that has developed and promotes a mobile application dedicated to providing ridesharing matches and services. The company is called Luli Information Technology (路俪科技), and Michelin sees growth potential for the firm in what it believes will be a significant market for ridesharing – a concept the tyre maker views as a “key component of a multi modal transportation ecosystem for today's cities.”
Dunlop is preparing for the 12th race of the year in the Moto2 and Moto3 World Championships on 30 August, as the series move to Silverstone. The eleven races have produced seven different winners in Moto2 and six different winners in Moto3 with seven races remaining. In 2014 both series only had six winners each over the full season showing that the intensity of the competition is getting stronger and with closer racing.
With large numbers of low-cost truck tyres, the development of retreading – not to mention legislative pressures and technological advances – hot topics in the truck tyre sector, Tyres & Accessories interviewed Continental Tyres’ sales and marketing director, Commercial, Arthur Gregg in order to get the well-known German tyre manufacturer’s inside perspective.
Yokohama Rubber has confirmed news reported in March that its Advan Sport V105 tyre will be fitted as original equipment on the latest generation Mazda MX-5 in size 195/50R16 84V. Yokohama tyres have been original equipment on the Mazda MX-5 since the model’s launch, and Yokohama Rubber says adoption of the Advan Sport V105 for the new model “continues this proud history.”
While ChemChina’s deal with Camfin to take over Pirelli officially got under way this month, not everyone connected to the economy in the People’s Republic was looking so positive. The stock market has been in freefall and industrial production looks to have taken a big hit. The Chinese state’s answer? To devalue the national currency (the yuan renminbi or RMB) three times in a week and make already cheap Chinese exports even cheaper.