Kumho Tire Co., South Korea’s No. 2 tire maker, is evaluating Poland, Serbia and Portugal as a potential site for its first plant in Europe as part of its broader push to expand supply to premium automakers with reduced cost and logistics risks, said its chief.
“We have narrowed down the candidate sites for our European plant to Poland, Serbia and Portugal and are actively evaluating them,” Kumho Tire Chief Executive Jung Il-taik told reporters at the launch event for its new Ecsta Sport tires in Yongin, South Korea, on Monday.
The company has been deliberating for over a year on where to build a production base to better serve luxury automakers in Europe, such as Mercedes-Benz, BMW and Audi.
It plans to invest more than 1 trillion won ($703 million) by 2027 to build its first plant in Europe.
“We have narrowed down the candidate sites for our European plant to Poland, Serbia and Portugal and are actively evaluating them,” Kumho Tire Chief Executive Jung Il-taik told reporters at the launch event for its new Ecsta Sport tires in Yongin, South Korea, on Monday.
The company has been deliberating for over a year on where to build a production base to better serve luxury automakers in Europe, such as Mercedes-Benz, BMW and Audi.
It plans to invest more than 1 trillion won ($703 million) by 2027 to build its first plant in Europe.
