The new light truck is assembled by an all-women team.

Hankook's decision to expand its Hungarian plant by 66,000 sqm and add this CV tyre production line was driven by the strategic goal of strengthening its presence in the European market. By producing TBR tyres locally, the company aims to shorten its route to market.

This new test track is for testing vehicle braking and is specifically for testing Electronic Stability Control (ESC) systems.

The company announced its 2024 financial report, with record full-year sales of USD 3.2 billion (2023: USD 3 billion), which increased the Earnings Per Share (EPS) to a record USD 8.31, up 12 percent from 2023. 2024 net income was USD 731 million, compared with 2023 figures of USD 673 million.

The company cut jobs, auctioned off spare parts, sold a portion of its business to Chinese battery manufacturer Gotion and shifted its business model towards an Original Equipment Designer (OED) model, focusing on design and development whilst outsourcing production.

The sixth facility in Pune is designed to safely dismantle up to 21,000 end-of-life vehicles annually!

This capital will help the company scale manufacturing at its 250,000 square foot production facility in Ohio. This strategic investment aims to meet the growing demand for zero-emission specialty vehicles, particularly in the American electric school bus sector.

The company announced 2024 sales figures of USD 10.3 billion, a decrease of USD 300 million compared to 2023 figures of USD 10.6 billion. Adjusted EBITA rose by USD 40 million, to USD 885 million in 2024 (2023: USD 845 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 650 million.

New Jakarta office to strengthen marketing and sales operations.

BorgWarner’s full-year financial year results included net sales of USD 14,086 million, a decrease of 0.8% compared to 2023 (14,198 million). Gross profit was up in 2024 with a figure of USD 2,648 million compared to 2023 figures of USD 2,568 million with an operating income of USD 1,417 million, or 10.1% of net sales.

Ijaz’s reappointment coincides with the closing of ONE’s latest funding round, which was led by Crescent Ventures LLC.

The operation in Adana, extends to 2,250 square metres and operates nine assembly lines.