Nexen Tire has released its first quarter 2025 financial results, and these show record revenues of KRW 771.2 billion (£400.02 million / €470.43 million) and an operating profit of KRW 40.7 billion (£21.16 million / €24.83 million). This reflects a 13.7 per cent year-on-year increase in revenue, which the tyre maker points out is the company’s highest-ever quarterly performance and a result that exceeds market forecasts.
Nexen Tire is establishing a dedicated winter tyre testing centre at UTAC proving ground in Ivalo, Finland. This facility will serve as a foundation for winter tyre performance testing and research and development. UTAC will oversee the construction of the centre, as well as its operation, which Nexen Tire expects to begin in full by December 2025.
Nexen Tire has announced the promotion of five executives, including that of John Bosco (Hyeon Suk) Kim as Chief Executive Officer. He has taken on this position as of 1 December 2024 and serves within the team led by Travis Kang, who will continue in his role as Global CEO and Vice Chairman. Announcing these appointments, the company says it has “selected next-generation leaders who have achieved demonstrated success in key business areas such as sales, production, and research and development.”
Another original equipment approval for Nexen Tire, this time in North America. Both the petrol and electric versions of the all-new Dodge Charger and Challenger muscle cars will wear all-season Nexen N’Fera AU7 tyres. Announcing the arrangement, Nexen Tire’s Global CEO, Travis King said: “Supplying OE tyres for such iconic vehicles in American automotive history is a remarkable achievement. We will continue to enhance our brand value by expanding OE tyre supply for premium vehicles through ongoing R&D and quality improvement efforts.”
An extension to Nexen Tire’s sports advertising in the USA commences today. Visitors to NBA games will see the Nexen Tire logo courtside and on television from 24 October, and this will be followed by brand placement at the NCAA from November 2023 and with a selection of MLB teams from March 2024.
Nexen Tire has signed a fourth partnership agreement with Manchester City Football Club. If the official photo can be trusted, the latest multi-year deal extends to 2026 and thus covers the two parties’ tenth anniversary together.
This year is Nexen Tire’s 80th anniversary, and the Korean tyre maker has unveiled a commemorative logo. According to the tyre maker, this new design incorporates its “legacy and history” and symbolises the “importance of the company’s long-term commitment to its consumers.”
Nexen Tire has published the 2020/21 edition of its ESG Report. This document follows up the inaugural report of 2019/20 by expressing the tyre maker’s commitment to expand ESG management and become a fully-fledged customer-oriented organisation, and the report thus provides an update of progress made in ESG-related areas as well as efforts in the fields of environment, society, and governance.
A ceremony was held at Nexen Tire’s R&D centre in Seoul yesterday to mark the official debut of the N’Fera Racing Team. Several of the South Korean tyre maker’s top executives attended the event, including chief executive officer Travis (Ho-chan) Kang, as well as Hwang Doyun, the team’s first driver.
Korean tyre maker Nexen Tire has launched a new brand identity along with a new slogan – ‘We Got You’. The aim of both is to further strengthen customer satisfaction with a focus on modern mobility solutions that improve quality of life in a changing world.
Stellantis, the company created through the merger of Peugeot and Fiat Chrysler Automobiles in January, has honoured Nexen Tire at its inaugural Supplier Awards. It awarded the tyre maker for Competitiveness, one of eight categories in this year’s event; Nexen was one of two firms recognised for “outstanding performance in terms of cost savings (commercial, process, technical solutions and logistics) and their proposals for a cost reduction portfolio in line with Stellantis’ objectives.”
Porsche will unveil the facelifted 2021 Panamera in August, and Nexen Tire reports its supply of original equipment tyres to this updated second-generation saloon. The new version of the Panamera will wear the Nexen N’Fera Sport in sizes 265/45 R19 105Y XL and 295/40 R19 108Y XL.
Nexen Tire has congratulated long-term partner Manchester City Football Club for its “phenomenal victory” in the 2020/21 Premier League season. Travis Kang, the tyre maker’s chief executive officer, comments that while the past year has been “a whirlwind,” Manchester City’s latest win has “certainly brought joy” to both Nexen and the team’s fans.
Nexen Tire has established Next Century Ventures (NCV), a Silicon Valley-based initiative aimed at backing budding mobility start-ups. Jin Mann Lee, chief strategy officer at Nexen Tire, will double as the managing partner at Next Century Ventures.
Manchester City F.C. and Nexen Tire have announced a new virtual fitness challenge, Nexen Road to Man City. This free virtual race officially begins on 22 April 2021 and encourages participants of any age or fitness level to exercise and adopt a healthier lifestyle by getting outside and being active over a 45-day period.
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