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Australian firm set to buy Britishvolt
6th February 2023Australian firm Recharge Industries, which is backed by US-based financiers Scale Facilitation Partners, has been named as the preferred bidder for Britishvolt. Britishvolt had planned to build a battery gigafactory near Blyth, Northumberland but ran into cashflow problems that became public in the last quarter of 2022.
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Apollo Tyres’ 9M revenue up 19%
6th February 2023Apollo Tyres Ltd. maintained its market share within Europe’s passenger car and light truck (PCLT) market in the three months to 31 December 2022 (Q3 FY2023) despite declining approximately 14 per cent year-on-year in this market. The tyre maker primarily attributes this negative growth to high channel inventory, a mild winter and the economic slowdown.
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Higher rim size car tyre sales rising in UK’s stratified recovery – GfK
Challenging trading conditions persist in the UK thanks to various interlocking crises, though 2022’s replacement tyre market demonstrates the way some segments resisted the strong headwinds better than others. While overall tyre sales (units) were basically flat versus 2021, any anticipated surging recovery from a pandemic induced nadir was, broadly speaking, put off for another year. Contrastingly, the value of the overall market surged, though this effect was more due to inflation and incre
Continue ReadingHankook Tire: Record sales in 2022
Announcing its 2022 financial results, Hankook Tire & Technology (Hankook Tire) shares that its consolidated global sales reached an “all time high” last year. Sales increased 17.5% to KRW 8,394.2 billion (£5.6 billion, $6.9 billion). Operating profit rose 9.9% YoY, to KRW 705.7 billion (£468.2 million, $576.7 million).
Continue ReadingPrometeon extends WorldSBK engagement with Yamaha team sponsorship
It may not produce motorcycle tyres, but Prometeon Tyre Group benefits from the exposure the Pirelli brand gains as top sponsor and tyre supplier to WorldSBK. Prometeon also took on WorldSBK official sponsorship in April 2022 and now seeks to further raise its profile amongst those who enjoy riding fast on two wheels by becoming co-title sponsor of the Yamaha WorldSBK team.
Continue ReadingBritishvolt, UK car manufacturing and OE tyres
In May-2020, we needed a lift. We’d all been through the first and arguably harshest lockdown and Prime Minister Boris Johnson modified the COVID-19 message from "stay at home, protect the NHS, save lives" to "stay alert, control the virus, save lives". In other words, not knowing that further lockdowns would follow, the PM was working towards easing restrictions and reopening the economy. Within the automotive sector many tyre specialists, garages and fast-fits had closed along with OEM facto
Continue ReadingAlexander Mai heading Apollo Tyres’ European two-wheeler business
Apollo Tyres has appointed Alexander Mai as Cluster Manager for its European Two Wheel Tyre division. Mai will succeed Thomas Mittendorff, who steps down at the end of January to take a position outside the company. Mai takes responsibility for a business that currently offers Vredestein bicycle tyres in Europe and is expected to introduce a range of Vredestein-branded tyres for motorcycles and mopeds in the not-too-distant future.
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