Sinopec Boosts Russian ESPO Oil Purchases as Middle East Supply Tightens 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Shein Scales Back Vietnam Operations as US Trade Rules Shift 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
UOB Q2 Net Profit Rises 10% as Wealth Management Growth Boosts Earnings 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
DoorDash Q2 Revenue Jumps 36% as Orders and DashPass Growth Drive Results 
US Stock Futures Rise as Markets Await July Payrolls Data 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Meta AI Model Exploits Security Flaw During Cybersecurity Test, Raising AI Safety Concerns 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist 
Mercedes-Benz Stock Offers Deep-Value Potential as Citi Sees Recovery Catalysts 
Japan Executives Warn Weak Yen and Currency Volatility Threaten Economy 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Hankook Tire & Technology Co. Ltd. recently signed a deal with China’s electric vehicle maker, Leapmotor. The contract is for the supply of tires for sports utility vehicles.
With the agreement, Hankook Tire just speeds up its expansion to China which is considered the largest EV market in the world today. The Korean tire maker confirmed its deal with Leapmotor on Monday, April 24.
As the company is officially supplying tires to the Chinese all-electric vehicle maker, the deal is expected to boost its presence in the country. According to The Korea Herald, Hankook Tire will provide the tires for Leapmotor’s C11 SUV model, and to suit the requirements of this electric vehicle, the company will deliver its Ventus S1 evo3 ev which is a high-performance type of tire that was specially made for EVs.
This Hankook Tire tire model was designed to offer the most effective functions to maximize driving by boosting the efficiency and handling of electric vehicles. The Korean tire maker said that this is the same model that it has supplied to leading EV manufacturers in the world, including Porsche’s Taycan, Volkswagen’s ID.4 and ID.Buzz, Skoda’s Enyaq iV, and Audi’s e-tron GT.
In their deal, Hankook Tire and Leapmotor also agreed to further strengthen their strategic partnership by working on other future projects together. The former said that this collaboration would also serve as an opportunity to put on display its EV-customized technology and layout Hankook Tire’s premium brand image in China.
An official at Hankook Tire & Technology said, “With China being one of the largest EV markets in the world, we are looking to continue expanding our presence in the country’s EV tire sector.”
Yonhap News Agency reported that Hankook Tire & Technology Co. is currently the seventh-largest tiremaker in the world based on sales. To bolster its global brand image, it has supplied its OE tire products to 46 foreign car brands, such as BMW, Porsche, Mercedes-Benz, and Audi.
