In an effort to foster clean mobility, the two companies signed a MoU to collaborate on R&D for tire technologies over the next three years.
Higher Commodity Prices Exert Upward Cost Pressure on Tires
Many tire OEMs have increased prices in CY-2021, ranging from 3-10% depending on type of tire and size. Higher commodity prices and increased ocean freight rates are being passed on to end users as OE profit margins compress.