Hankook Tire supplies EV tires for BMW's new iX3 SUV | Yonhap News Agency

## Summary
OK SEOUL, March 16 (Yonhap) -- Hankook Tire & Technology Co., the world's seventh-largest tiremaker by sales, said Monday it has begun supplying tires for the new iX3 sport utility vehicle (SUV) produced by BMW. Hankook Tire is providing its high-performance, electric-vehicle-specific iON evo SUV tires for the iX3 as original equipment (OE), the company said in a press release. This file photo provided by Hankook Tire & Technology Co. shows the electric vehicle-only iON evo SUV tires installed in BMW's new iX3 SUV model. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles (LEAD) Hankook Tire's Q4 net profit up 73.7 pct on premium tire sales Hankook Tire supplies tires for BMW's new i4 coupe Keywords #Hankook Tire #supply deal Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N. Korea holds parliamentary elections First lady attends memorial service for ex-PM Lee Hae-chan prev Hankook Tire supplies EV tires for BMW's new iX3 SUV Next Hankook Tire supplies EV tires for BMW's new iX3 SUV

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SEOUL, March 16 (Yonhap) -- Hankook Tire & Technology Co., the world's seventh-largest tiremaker by sales, said Monday it has begun supplying tires for the new iX3 sport utility vehicle (SUV) produced by BMW.
Hankook Tire is providing its high-performance, electric-vehicle-specific iON evo SUV tires for the iX3 as original equipment (OE), the company said in a press release. It did not disclose when the supply began.
The iX3 is the first model built on BMW's next-generation electric vehicle (EV) platform, Neue Klasse.
Hankook already supplies OE tires for several models from BMW and its affiliate MINI, including the BMW 1, 3, 5 and 7 Series sedans, the X1, X3 and X5 SUVs, and the iX electric flagship SUV.
As part of efforts to strengthen its global brand presence, Hankook supplies OE tires for about 300 vehicle models from 40 overseas automakers, including Audi, BMW, Mercedes-Benz and Porsche.
While supplying OE tires to automakers does not generate significant revenue, securing contracts with major global car brands helps enhance brand recognition and can support higher product pricing over time.
For tire manufacturers, higher margins are generally generated through replacement equipment (RE) tires sold in the aftermarket.
Last year, overseas markets accounted for 88 percent of Hankook Tire's total revenue.
The company operates eight production plants worldwide -- two in South Korea, one in Hungary, one in the United States, three in China and one in Indonesia -- with a combined annual production capacity of 100 million tires.
This file photo provided by Hankook Tire & Technology Co. shows the electric vehicle-only iON evo SUV tires installed in BMW's new iX3 SUV model. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
(END)
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## Expert Analysis

### Merits
- While supplying OE tires to automakers does not generate significant revenue, securing contracts with major global car brands helps enhance brand recognition and can support higher product pricing over time.

### Areas for Consideration
- This file photo provided by Hankook Tire & Technology Co. shows the electric vehicle-only iON evo SUV tires installed in BMW's new iX3 SUV model. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles (LEAD) Hankook Tire's Q4 net profit up 73.7 pct on premium tire sales Hankook Tire supplies tires for BMW's new i4 coupe Keywords #Hankook Tire #supply deal Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N.

### Implications
- This file photo provided by Hankook Tire & Technology Co. shows the electric vehicle-only iON evo SUV tires installed in BMW's new iX3 SUV model. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles (LEAD) Hankook Tire's Q4 net profit up 73.7 pct on premium tire sales Hankook Tire supplies tires for BMW's new i4 coupe Keywords #Hankook Tire #supply deal Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N.
- Korea, U.S. conduct joint drills (LEAD) N.
- Korea's missile firing (LEAD) Gov't to take steps to implement fuel price cap this week as Mideast crisis intensifies Most Viewed All Categories S.
- Korea weighs Trump's ship request with careful consideration (LEAD) N.

### Expert Commentary
This article covers hankook, tire, tires topics. Notable strengths include discussion of hankook. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 574.