GOODYEAR INTRODUCES GOODYEAR® ELECTRICDRIVE™ 2 WITH ELEVATED PERFORMANCE CAPABILITY AND SUSTAINABLE MATERIALS

Rhea-AI Summary

The Goodyear Tire & Rubber Company (GT) unveiled the ElectricDrive™ 2, an all-season electric vehicle (EV) tire with at least 50% sustainable materials by weight, improved rolling resistance, and long-lasting tread life. It features SoundComfort Technology® for a quiet ride and an asymmetric tread pattern for confident handling in wet or dry conditions. The tire will be available in 17 sizes for leading and emerging consumer EV sedans and CUVs starting May 2024.

Insights

Market Research Analyst

The introduction of the Goodyear ElectricDrive™ 2 tire signifies a strategic move by Goodyear to capitalize on the burgeoning electric vehicle (EV) market. As EV adoption accelerates, demand for specialized components, including tires tailored for EV characteristics, is expected to grow. This product launch aligns with consumer trends that emphasize sustainability and performance, particularly in the EV segment. The integration of sustainable materials addresses the eco-conscious consumer base, while features like SoundComfort Technology® cater to the unique needs of EV owners, who often value a quieter ride due to the absence of engine noise.

From a market perspective, Goodyear's focus on sustainability and innovation could enhance brand reputation and appeal to both environmentally conscious consumers and investors interested in ESG (Environmental, Social and Governance) criteria. The long-lasting tread life and improved rolling resistance also speak to cost-effectiveness and efficiency, which are key considerations for EV owners looking at total cost of ownership. Goodyear's strategy to offer a wide range of sizes compatible with popular EV models indicates a targeted approach to capture a significant share of the aftermarket tire segment for EVs.

Sustainability Expert

Goodyear's commitment to incorporating at least 50% sustainable materials in the ElectricDrive™ 2 tire is a reflection of the industry's shift towards more sustainable production practices. The use of soybean oil, rice husk ash silica and sustainably sourced natural rubber demonstrates an innovative approach to reducing the environmental footprint of tire manufacturing. These materials are not only renewable but also contribute to the tire's performance, such as enhancing grip and reducing rolling resistance.

The rolling resistance of a tire is crucial as it directly impacts vehicle efficiency and range, which are paramount in EV performance. A lower rolling resistance means that the vehicle consumes less energy to maintain speed, thereby extending the driving range of EVs—a critical factor for consumer acceptance and market growth of electric mobility. By focusing on this aspect, Goodyear is not only contributing to environmental sustainability but also addressing a key performance metric that can influence consumer purchasing decisions.

Automotive Industry Analyst

The launch of the ElectricDrive™ 2 tire is a strategic response to the specific demands of the EV market. EVs present different challenges for tire design, such as increased torque from electric motors and heavier weights due to battery packs, which necessitate more durable and robust tires. Goodyear's emphasis on an asymmetric tread pattern optimized for wet and dry grip, along with a long-lasting tread compound, indicates a focus on safety and durability, which are critical factors for consumers.

Moreover, the aerodynamic sidewall design and the innovative compound that lowers aerodynamic drag and rolling resistance contribute to the overall efficiency of EVs. These features are likely to be well-received by EV manufacturers looking for OEM partnerships, as they align with the industry's push towards maximizing vehicle range and efficiency. Goodyear's proactive approach in developing a tire specifically for the EV market could position it as a preferred supplier in this niche but rapidly expanding segment, potentially impacting its market share and financial performance positively in the long term.

New Goodyear® ElectricDrive™ 2 is built for electric vehicles and designed to deliver upgraded all-season traction and long-lasting tread life

AKRON, Ohio, Jan. 9, 2024 /PRNewswire/ -- At CES® 2024, The Goodyear Tire & Rubber Company (NASDAQ: GT) unveiled the latest tire in the ElectricDrive™ family: The Goodyear® ElectricDrive™ 2, an all-season electric vehicle (EV) tire enhanced with sustainable materials¹, improved rolling resistance² and long-lasting tread life to maximize drivers' EV performance. The new ElectricDrive™ 2 is the latest step in Goodyear's sustainability maturity and contains at least 50% sustainable materials per tire by weight^{1, 3}. 

According to recent consumer EV research conducted by Goodyear⁴, maintaining a quiet ride and wet road performance are the top two features that EV owners look for when considering a tire. To meet drivers' needs, the ElectricDrive™ 2 features SoundComfort Technology®,  a built-in sound barrier that helps reduce interior vehicle noise and an asymmetric tread pattern that provides confident handling for wet or dry road conditions.

"With the continued adoption of EVs, we want to meet consumer and market needs with an updated EV replacement tire," said David Reese, vice president, Product Development, Goodyear Americas. "We know EV drivers prioritize performance and a more-sustainable tire. The ElectricDrive™ 2 was designed with at least 50% sustainable materials, a focus on providing greater traction and maintaining a quiet ride."

This all-season tire will be available beginning May 2024 in the U.S. and come in 17 sizes designed to fit today's leading and emerging consumer EV sedans and CUVs, including the Tesla Models Y, 3 and S, Ford Mustang Mach-E, Chevy Bolt, Audi Q4 e-tron and many more.

The ElectricDrive™ 2 is equipped with the following features and benefits:

• SoundComfort Technology® foam inserts that help reduce the level of interior vehicle sound.
• At least 50% sustainable materials^{1, 3}, including the use of soybean oil in the tire's construction, rice husk ash silica and sustainably sourced natural rubber.
• Asymmetric tread pattern that is optimized to improve grip and responsiveness on wet and dry roads.
• Long-lasting tread compound, designed with resilience in mind to help EV drivers get more miles out of their tires.
• Aerodynamic sidewall and innovative compound that lowers aerodynamic drag and enables lower rolling resistance².

The ElectricDrive™ 2 will be available for purchase in May 2024. For more information about the ElectricDrive™ 2, please visit www.goodyear.com or contact your local Goodyear authorized dealer.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 74,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

¹ Goodyear defines sustainable material as a bio-based (defined as material of biological origin (Source: ISO 14021)); renewable; or recycled (defined as material that has been reprocessed from recovered [reclaimed] material (Source: ISO 14021)) material; or one produced using or contributing to other practices designed to promote resource conservation and/or emissions reductions, including ISCC PLUS mass-balance (defined as a certification verifying our capability to track the amount and sustainability characteristics of circular and/or bio-based material in the value chain and attribute it based on verifiable bookkeeping (Source: https://www.iscc-system.org/certification/chain-of-custody/mass-balance/ )) material.

² Rolling Resistance of ElectricDrive 2 was compared to first-generation  ElectricDrive GT

³ Each anticipated size of the ElectricDrive 2 contains at least 50% sustainable material by weight

⁴ in4mation insights EV features research, 2022, commissioned by Goodyear. The online study involved 750 US-based respondents who are the decision maker for auto services/parts purchase and own or lease at least one car or crossover

 

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What is the latest tire unveiled by The Goodyear Tire & Rubber Company?

The latest tire unveiled by The Goodyear Tire & Rubber Company is the ElectricDrive™ 2, designed for electric vehicles and featuring sustainable materials, improved rolling resistance, and long-lasting tread life.

What are the top two features that EV owners look for when considering a tire, according to recent consumer EV research conducted by Goodyear?

According to recent consumer EV research conducted by Goodyear, the top two features that EV owners look for when considering a tire are maintaining a quiet ride and wet road performance.

When will the ElectricDrive™ 2 be available for purchase?

The ElectricDrive™ 2 will be available for purchase in May 2024.

What are some features and benefits of the ElectricDrive™ 2?

The ElectricDrive™ 2 is equipped with SoundComfort Technology® foam inserts, at least 50% sustainable materials, an asymmetric tread pattern, long-lasting tread compound, and an aerodynamic sidewall and innovative compound for lower aerodynamic drag and lower rolling resistance.