Hankook Tire announced on January 22 that it signed a memorandum of understanding (MOU) with Jumbo Bus Group, one of the largest private bus companies in China, to supply its SINGDA tire for use in intra-city buses.
Hankook Tire entered the Chinese market back in 1994 with tires for use in sedans and SUVs. The company initiated the production and sale of truck and bus tires in China in 2002. According to Hankook Tire, the recent MOU means that the Chinese market appreciated the competitiveness of its intra-city bus tires, which are a type of product requiring maximum mileage and maximum cost efficiency based on fundamental product performance and stability.
Before the MOU, Jumbo Bus Group used tires supplied from multiple companies, including Michelin, Dunlop, and Chinese tire manufacturers. However, Hankook Tire has become a sole supplier as a result of the MOU.
At present, Jumbo Bus Group is running more than 4,500 buses in a total of 187 routes, transporting no less than 560 million passengers a year.