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Kumho Expects Growth to Come from New Segment

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Kumho Tires has placed its bets on the electric vehicle segment becoming more popular. When it does, the company said that tires for full-electric vehicles will be the company’s future growth engine.KUMHO_resized

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In April 2013, Kumho launched Wattrun, an electric-car tire brand. At the time, the company pledged to ramp up efforts to take an early edge in the emerging electric vehicle market. According to Kumho’s in-house test results, its electric car tires were 11% lighter than average tires of the same size in the market, and they recorded 18% less rolling resistance. In October 2013, Kumho signed an exclusive deal to supply tires for the Korean car manufacturer Renault Samsung Motors’ all-electric compact SM3 Z.E. until 2018. The company also produces original-equipment tires for Kia’s Soul EV.

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