Why Tire Companies Love EVs: The Untold Story

The tire industry is notoriously challenging, with low growth, slim margins, and fierce competition. Manufacturers often grapple with volatile raw material prices, and about half of customers are indifferent to tire brands, focusing mainly on price as the key factor. However, the rise of electric vehicles (EVs) is creating a significant growth opportunity for tire makers. Experts at AlixPartners predict that tires for EVs can cost 50% more and need replacement 20% more frequently than those for traditional vehicles. This development is poised to transform the tire market, offering substantial new revenue streams. Join us at Apex Chronicles as we explore how EVs are revolutionizing the tire industry. Uncover the challenges, opportunities, and innovations shaping this change. Don’t forget to like, subscribe, and hit the bell icon for more insightful stories on global industries and market trends. Watch the video above to discover how the EV boom is reshaping the tire business and what it me