According to media reports, British tire startup ENSO announced on June 24 that it has signed a letter of intent with the U.S. Export-Import Bank to invest $500 million to construct a factory in the United States. Once fully operational, this plant will be capable of producing 20 million electric vehicle tires annually.
ENSO stated that by 2027, the factory will employ 600 people and have an annual production capacity of 5 million tires. The company added that potential sites for the factory include Colorado, Nevada, Texas, and Georgia, with other states also under consideration.
ENSO aims to recycle all the tires produced in the U.S. However, the company did not provide a specific date for reaching full production capacity.
ENSO CEO Gunnlaugur Erlendsson said in a statement, "With strong regulatory support and significant market opportunities, we are committed to providing American consumers with innovative, low-emission, and low-cost tires."
ENSO mentioned that its technology partners, Rockwell Automation, venture capital fund 8090 Industries, and Galway Sustainable Capital, will also support the new factory.
ENSO has developed tires specifically for electric vehicles, which can increase the range by 10% and reduce particulate emissions by 35%. The company has already started selling tires in the UK and will begin sales in the U.S. this year.
As tires wear and come into contact with road surfaces, they release tiny particles. Electric vehicles, being heavier than gasoline vehicles, emit more of these particles, which is becoming an increasingly serious issue as the number of electric vehicles on the road rises. The European Union and California have already announced regulations aimed at limiting tire emissions.
