Hankook Tire to suspend production in Hungary

In another hit to the European automotive market, Hankook Tire is planning to temporarily suspend production at its Hungarian plant starting next week until April 7, according to local news reports. The South Korean company employs more than 3,300 people at its Rácalmas plant, roughly 50 km south of Budapest. Hankook Tire Magyarorszag produces 19 million tires annually at the site. Many top automotive companies have closed their plants across Europe over the last few weeks in response to the worsening coronavirus pandemic.