South Korean start-up is transforming tyre safety by delivering real-time data insights that go beyond traditional TPMS, monitoring tyre pressure, temperature, wear and alignment. Targeted at fleet operators and manufacturers, BANF’s system improves vehicle safety, reduces costs and supports sustainability. With global partnerships including Volvo and Hyundai, BANF is also exploring market opportunities in India.

When it comes to vehicle safety and fuel efficiency, the role of tyres has often been underrated. Modern vehicles have undergone significant advancements over the decades, evolving from basic mechanical structures to sophisticated mechatronic and digital systems. However, for most, tyres remain largely unchanged – seemingly confined to the traditional black, rubber look without much technological upgrade.

The Tyre Pressure Monitoring System (TPMS), introduced in 1986 within high-end luxury cars, has yet to achieve global standardisation. Apart from a few countries where it is mandated, TPMS remains a novelty even in modern vehicles.

BANF (Begin a New Future), a South Korean start-up focusing on software and hardware technology to fully digitalise tyre information, is determined to change this. In an exclusive conversation with Tyre Trends, Ron Yoogun Lee, VP of Global Business Development at BANF, explains the company’s purpose:

“BANF was founded to address this critical need by integrating smart sensor technology and data analytics into tyre management. Our mission is to elevate vehicle safety, enhance tyre performance and reduce environmental impact through the digitalisation of tyre data. By providing real-time insights into tyre conditions, BANF empowers fleet operators, manufacturers and drivers to optimise maintenance, lower costs and promote sustainability. This drives us to tackle industry challenges with transformative solutions, pioneering a safer and more connected future for mobility.”

Expanding beyond basic TPMS capabilities

Lee explains that one of the primary limitations of current TPMS is its restricted data scope. Traditional TPMS sensors monitor tyre pressure at low frequencies, transmitting data every few minutes but focusing solely on air pressure.

BANF’s technology, however, gathers a wider range of tyre data, including pressure, temperature, tread wear, wheel alignment and even lug nut stability. This approach goes well beyond air pressure monitoring, providing insights that make tyres ‘smarter.’

Using machine learning, BANF’s system analyses the data to offer valuable insights to drivers and fleet operators regarding not only tyre health but also cargo load measurements and road surface conditions. The data is reportedly up to 90 percent accurate.

Lee details the core of BANF’s solution, which is built on two main components:

Tyre-Mounted Sensor (iSensor): A 3-axis accelerometer-based sensor attached (glued) inside the tyre’s inner liner, the only point of contact between the vehicle and the road.

Smart Profiler (Transmitter): Mounted on the mud flap or wheel arch and connected to the vehicle’s battery, this device wirelessly powers the sensor using magnetic resonance, gathering data on the tyre's internal and external conditions.

“Unlike standard TPMS, our system collects and analyses a comprehensive range of data points, offering real-time insights into tyre health and performance. This includes not only pressure but also factors such as temperature, tread wear and load, providing a more complete picture of the tyre’s condition,” he says.

BANF considers its unique selling point to be its advanced digitalisation and data analytics capabilities. The system empowers fleet managers, manufacturers and drivers to make proactive, data-driven decisions to enhance safety, optimise tyre performance and reduce maintenance costs. This comprehensive approach to tyre monitoring addresses the limitations of traditional TPMS, meeting the rising demand for safer, smarter and more efficient mobility solutions.

Continuous power and data collection

BANF’s technology enables continuous power supply to high-speed rotating tyres using resonant wireless power transmission. This allows the internal sensors to continuously collect data while driving, capturing 3-axis (X, Y, Z) accelerometer data to support advanced algorithm development. Additionally, BANF leverages mathematical modelling expertise to ensure high efficiency and minimal error in resonant wireless power environments.

Despite TPMS technology existing for over four decades, it still lacks widespread adoption. Why is that? Is it due to cost, awareness or maturity of the technology? Lee attributes the slow adoption of basic TPMS to limited consumer awareness and the system’s restricted functionality.

While TPMS provides basic air pressure information, it does not address other crucial aspects of tyre health, such as temperature, tread wear and load. This limited capability diminishes its perceived value, especially among consumers and manufacturers seeking comprehensive solutions.

“However, with the inevitable rise of electric vehicles (EVs) and autonomous vehicles (AVs), the demands on tyres are increasing. EVs, with their heavier batteries and higher torque, place additional stress on tyres, while AVs, designed for continuous operation, further amplify this strain. Traditional tyre monitoring methods, such as visual inspection, are inadequate for autonomous vehicles. As these trends reshape the automotive landscape, the need for advanced tyre monitoring systems that go beyond basic TPMS is growing. This shift will likely increase consumer awareness and drive the adoption of more comprehensive tyre monitoring solutions,” explains Lee.

While BANF may still be relatively unknown, the Korean start-up is already collaborating with major players like CampX by Volvo Group, Hyundai Motor Group, DHL and more than 20 other global organisations.

“Our primary target clients are fleet management companies operating commercial vehicles, particularly in the Truck and Bus Radial (TBR) segment. These clients benefit most from our advanced tyre monitoring solutions due to the significant return on investment (RoI) from optimised tyre usage, enhanced safety and reduced maintenance costs. By providing real-time insights into tyre health, we enable fleet operators to make data-driven decisions that minimise downtime and maximise efficiency. We currently produce 1,000 units monthly and are expanding our manufacturing capabilities,” shares Lee.

Plans for India and tyre safety

India, traditionally a cost-conscious market, has emerged as a major manufacturing hub and one of the fastest adopters of new technologies. In response to a question on BANF’s potential interest in India, Lee reveals:

“We are currently working with several companies in India, including major tyre manufacturers, vehicle manufacturers and last-mile fleet operators. We are supported by KISED, an arm of the Ministry of SMEs of Korea and NIPA, part of the Ministry of Science and ICT. We are actively engaging with stakeholders in the Indian innovation ecosystem and will be visiting India shortly to strengthen partnerships and explore further opportunities.”

Acknowledging India’s cost-sensitive market, Lee adds, “We are considering options for a facility setup worldwide, with India being one of our top choices.”

Road safety remains a priority for both the Indian automotive industry and the world. Despite numerous initiatives and technologies, the World Health Organisation (WHO) reports that 1.19 million lives are lost in road accidents each year. Road traffic injuries are the leading cause of death for children and young adults aged 5–29 years, with 92 percent of fatalities occurring in low- and middle-income countries.

Focus areas for tyre industry safety and efficiency

Lee identifies three key areas where the tyre industry can improve safety and efficiency:

1. Advanced Materials: Developing new tyre compounds that enhance durability and reduce rolling resistance can improve safety and energy efficiency. Lightweight, high-strength materials reduce energy loss and extend tyre life, crucial for EVs demanding lower energy consumption for longer range.

2. Intelligent Monitoring Systems: Smart sensors to monitor tyre health in real-time are increasingly essential. By tracking metrics such as pressure, temperature, tread wear and load, intelligent systems can alert drivers or fleet managers to potential issues before they escalate. This proactive approach enhances safety and fuel efficiency, as well-maintained tyres contribute to better aerodynamics and lower fuel consumption.

3. Sustainable Manufacturing: Optimising production to minimise environmental impact is crucial. Using eco-friendly materials, reducing waste and recycling tyres contributes to a more sustainable industry, aligning with global trends towards green manufacturing and supporting the energy efficiency goals of the automotive industry.

INTERVIEW: Ron Yoogun Lee

What are the upcoming key trends you see in the tyre industry?

One of the key trends in the tyre industry is the increasing emphasis on safety. As vehicles become more advanced, with a growing number of electric vehicles and autonomous vehicles entering the market, the demands placed on tyres are intensifying. EVs, for instance, have heavier loads and higher torque, which increase wear and tear on tyres, while AVs require consistent, reliable performance to operate safely around the clock. These factors are driving the need for smarter tyre solutions that go beyond traditional monitoring systems.

There is a growing demand for intelligent tyre technologies that provide real-time data on various parameters like pressure, temperature, tread wear and load. Such capabilities allow fleet operators, manufacturers and individual drivers to maintain tyre safety proactively, reduce maintenance costs and ensure optimal performance under diverse conditions. Meeting the advanced requirements of EV and AV clients is crucial, as their vehicles rely on enhanced tyre performance for safety and efficiency. As a result, the industry is moving towards digitalisation and smart sensors to address these evolving needs, marking a significant shift in tyre technology and monitoring.

What is BANF’s business plan (OE supplier), or you will also look at aftermarket opportunities?

BANF’s business plan primarily centres around building strong partnerships with Original Equipment (OE) manufacturers and OE suppliers. Our goal is to enhance tyre safety and efficiency directly at the manufacturing stage, ensuring that end customers benefit from high-quality, intelligent tyre solutions from the outset. Currently, our focus is on the commercial vehicle segment, where we see substantial demand for advanced tyre technology to improve safety, performance and operational efficiency.

That said, we also recognise the significant potential in the aftermarket sector and are actively exploring opportunities to expand into this space. The aftermarket offers us the chance to provide a wider range of products and services directly to end-users. By pursuing both OE partnerships and aftermarket avenues, we aim to deliver innovative tyre solutions that meet the evolving needs of our customers across the entire lifecycle of their vehicles.

What are the other products or areas that you would look to focus on?

Looking ahead, we still believe there is a lot can come out from tyre. We are currently developing many other advanced features to be announced soon. In a sense of product portfolio, we are looking into two-wheeler, three-wheeler market and also airplane tyres.

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Elkem ASA, a global leader in advanced silicon-based materials, has announced the appointment of Dag Teigland as its new Chief Executive Officer, effective 3 August 2026. The board’s decision coincides with the departure of Helge Aasen, who will step down after leading the company since 2009 to take on the role of Chairman of the Board.

Bringing more than two decades of industrial and investment expertise, Teigland currently serves as executive chairman of Tekna Holding ASA, a firm known for advanced metal powders. His career includes senior executive positions at Tinfos AS and Holta Invest AS, where he managed an active investment platform. Previously, he held multiple leadership roles at Elkem from 1998 to 2002, culminating as Managing Director for the chrome business area, providing him with direct familiarity with the company’s operations.

Marianne E Johnsen, Interim Chair of the Board of Elkem, said, “The Board is pleased to appoint Dag Teigland as CEO of Elkem. He brings deep industrial expertise and a proven track record of driving development and transformation. With his background spanning both international industrial operations and investment environments, Dag is well suited to lead Elkem into its next phase of growth and development.

“At the same time, the Board would like to thank Helge Aasen for his strong leadership and significant contribution to Elkem over many years. During his tenure, Elkem has strengthened its strategic position, expanded its global footprint and developed world-leading positions in silicon, ferrosilicon, foundry alloys and carbon solutions. Helge has also led Elkem through major portfolio and financing measures, including the divestment of the Silicones division. We are very pleased that he will continue to contribute to the company’s development as chairperson of the board.”

Teigland said, “It is a great honour to return to Elkem and take on the role of chief executive officer. Elkem is a company with a strong industrial heritage and a leading position within its respective segments. I look forward to working with the Board, the Elkem leadership team and colleagues worldwide to build on this foundation, accelerate sustainable growth, advance safety and innovation and ensure that Elkem continues to supply the strategic materials needed for a cleaner, smarter and more resilient future.”

Aasen said, “It has been a privilege to lead Elkem as CEO over the past 17 years. I am proud of what the organisation has accomplished during this period and confident that the company is well positioned for long-term, sustainable value creation. I look forward to continuing to support Elkem in my new role as chairperson of the board and to work closely with Dag in the transition.”

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German tier 1 supplier Continental has announced the sale of its ContiTech group sector to an affiliate of Lone Star Funds for EUR 4 billion. The transaction includes components of up to EUR 250 million dependent on performance.

Following the sale, Continental will sharpen its focus on tyre manufacturing. The transaction is expected to result in a cash inflow of approximately EUR 3.1 billion. Continental plans to use EUR 2.5 billion of these proceeds for a special dividend or a combination of a special dividend and share buybacks. Lone Star Funds will assume responsibility for all ContiTech business operations.

Sabrina Soussan, Chair of Continental’s Supervisory Board, said, “With the sale of ContiTech, the Supervisory Board approved the final step in Continental’s realignment. We are convinced that both companies will be better positioned to develop as independent businesses than as part of the same group. This strategic focus will make them both even stronger.”

Christian Kötz, CEO, Continental, said, “The sale of ContiTech not only marks the final step in our strategic realignment, but also the beginning of a new era as a pure-play tyre manufacturer. As announced, our shareholders will participate in the proceeds from the sale. We will also continue to improve our solid capital structure.”

Donald Quintin, CEO, Lone Star Funds, said, “ContiTech is a well-positioned industrial company with outstanding technological capabilities and extensive expertise in materials, making it one of the leading providers in its industries. We are convinced of ContiTech’s significant potential. As a global investor with a track record in the industrials sector, we look forward to working closely with the management team and employees around the world to further develop the business – through operational improvements and targeted investments in attractive growth markets.”

ContiTech reported sales of EUR 4.4 billion in the 2025 fiscal year and employs approximately 22,000 people. Its portfolio includes conveyor and drive systems, fluid management solutions, and damping and surface applications.

For Continental, the tyre business remains its core operation, supported by 19 tyre plants and 55,000 employees. Passenger-car tyre sales accounted for 77 percent of tyre revenue in 2025. The company’s realignment follows the spin-off of its Automotive sector in September 2025 and the sale of ContiTech’s Original Equipment Solutions business area in February 2026.

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European premium tyre brand Pirelli has acquired a 24.99 percent equity stake in RIDEsense, a start-up originating from the University of Naples Federico II and the MegaRide Group.

The agreement grants Pirelli a licence to use RIDEsense’s virtual sensor technology and includes an option for Pirelli to increase its holding to 100 percent of the company’s share capital.

The partnership aims to integrate Pirelli’s physical tyre sensors with RIDEsense’s virtual sensor algorithms. This integration is intended to expand the functionality of the Cyber Tyre ecosystem, particularly for ADAS and autonomous driving systems, by improving tyre and vehicle diagnostics and strengthening safety features such as aquaplaning detection.

The Pirelli Cyber Tyre system collects data from sensors embedded in tyres to transmit information to vehicle electronic systems in real time, supporting functions such as ABS, ESP and traction control. RIDEsense provides physics-based algorithms that model vehicle and tyre behaviour, available as software for electronic control units or as hardware through its Kymes platform.

Piero Misani, Chief Technical Officer, Pirelli, said, “More than 20 years ago, we embarked on the journey that led to the integration of data collection and transmission capabilities into tyres, giving rise to Cyber Tyre technology. Our agreement with RIDEsense will further expand the potential of this ecosystem by strengthening its software component, which lies at the very heart of Cyber Tyre.”

Flavio Farroni and Aleksandr Sakhnevych, Chief Executive Officers, RIDEsense, said, "This is a significant agreement for Italy. It brings together Italian research and industry to take a project that began more than ten years ago in Naples, within the Vehicle Dynamics Group at the University of Naples Federico II, and supported by the University's technology transfer structures, onto Pirelli's production lines. As mobility becomes increasingly connected, technologies capable of delivering greater safety, efficiency and driving quality are essential. This is the objective we share with Pirelli."

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The global tyre recycling sector currently navigates a volatile landscape where geo-political instability and logistical bottlenecks intersect with a surging demand for circular economy solutions. While conflict-driven shifts in raw material flows present procurement challenges, they simultaneously offer Indian recyclers a strategic opening to diversify sourcing from high-compliance markets like US and Europe. Despite rising operational costs, the industry’s pivot towards sustainable, high-quality outputs, supported by rigorous international certifications, remains a vital driver for India’s manufacturing and infrastructure resilience.

The global tyre recycling industry is currently witnessing a mix of disruption and opportunity, shaped by geo-political tensions, logistics constraints and evolving sustainability expectations. The ongoing conflict involving the Middle East, along with United States and Israel, is influencing raw material flows in a significant way.

“The Middle East is a big part where the raw material generation is quite high, which gives a better boost to the Indian industry with regards to the import of base tyres,” said General Manager for Cross Border Procurement and Supply Chain at Dashmesh Group, Vijay Rana.

At the same time, global metal availability remains high, creating a complex supply environment.

“So this is a very challenging time and we can say it is also an opportunity for Indian companies to explore new markets where they can secure more materials,” added Rana.

Key alternative sourcing regions include United States, Australia, Europe and United Kingdom, where scrap availability remains strong. However, these markets come with strict compliance requirements.

“In those countries, there are certain norms which have real importance to comply with. If the importer is compliant, then it is not a problem. In many cases, the importer is also the manufacturer and actual user of the raw material,” he explained.

Logistics continues to play a decisive role in the industry’s performance.

“Shipping lines and water transport contribute nearly 80 percent of import-export trade, while only about 20 percent depends on air freight,” said Rana.

Rising energy costs and geo-political uncertainties are driving up operational expenses.

“This is giving the cost on the higher side, which is making the Indian industry a little slow in giving its best contribution to the economy,” he noted.

STRONG CIRCULAR PUSH

Despite these pressures, tyre recycling remains a critical segment within India’s circular economy.

“This waste tyre recycling segment is a big segment in India, giving its best contribution to the circular economy,” Rana said.

The sector supports multiple product streams including rubber granules, tyre-derived oil and related outputs.

Certifications also play a vital role in accessing international markets, particularly in Europe. "In European countries, REACH compliance and certifications are very important because people give more importance to the environment as well as human safety,” he explained.

With required certifications in place, exports are not significantly constrained.

“We have all the certifications in hand, and based on that, we do not have any challenge exporting our products to those countries,” Rana added.

Dashmesh Group has built a strong legacy in the rubber recycling industry since its founding in 2005. From its beginnings as a tyre trader to the establishment of major facilities in Gujarat, the group has scaled its production capacity significantly. Today, it is one of the leaders in sustainable manufacturing, operating with a zero-waste philosophy and holding different certifications like ISO, ISCC, KVQA and UKCERT.

The group specialises in producing high-quality crumb rubber, reclaimed rubber, rubber mulch, rubber granules, tyre pyrolysis oil and recovered carbon black. These REACH-compliant materials serve as vital, cost-effective resources for various Indian industries.

DOMESTIC DEMAND AND EXPORTS

India continues to be a strong domestic market for recycled tyre products.

“Presently, we are giving 95 percent of our finished product to the local market. Only five percent is exported,” said Rana.

Exports are currently routed largely through channel partners with some direct customers as well.

“We are more focused on increasing volumes in the export market,” he noted.

Dashmesh Group serves a diverse portfolio of industries across India, positioning itself as a key supplier for specialised manufacturing and development sectors. A significant portion of their operations is dedicated to supporting tyre manufacturing companies, providing the essential materials or components required for large-scale automotive production.

Beyond the automotive sector, the group plays a vital role in the industrial handling market by catering to conveyor belt manufacturers. These partnerships are crucial for the production of heavy-duty belts used in mining, logistics and factory automation.

Furthermore, it is actively involved in the nation’s growth through its collaboration with road infrastructure companies. By supplying this sector, they contribute to the essential materials and logistical support needed for the construction and maintenance of India’s expanding highway and transit networks.

“In terms of distribution of finished products, approximately 40–50 percent goes to tyre industries, around 25 percent to conveyor belting and rubber component industries and the remaining 25 percent to road infrastructure,” Rana explained.

GROWING ECOSYSTEM

Dashmesh Group operates continuous pyrolysis systems and quality remains central to the company’s positioning.

“Since the beginning, we have been more focused on quality because we have a recycled product. When we give the best quality to our customers, we can maintain them,” Rana said.

He noted that India’s position as a global tyre manufacturing hub continues to strengthen, which eventually fares well for recyclers like them.

Additionally, India’s size contributes to sustained demand. “It is a wide country, so there is a huge requirement for tyres,” Rana noted.

Sustainability also remains central to operations. “Around the globe, tyre generation is high and we are completely aligned towards sustainability,” he said.

Operational scale reflects this commitment as the company processes approximately 20,000 tonnes of tyres in a month. This contributes to resource conservation.

The company’s sourcing model focuses on direct engagement with global collectors. “Our main target is to connect with actual tyre waste collectors and processors outside the country as this ensures visibility and long-term alignment,” said Rana

“It gives clear visibility to both importers and exporters regarding who is involved and what the future planning is,” he explained.

Collection networks are decentralised as they gather waste from small locations and collection yards within their respective countries.

EXPANSION STRATEGY

Dashmesh Group is aggressively expanding its physical footprint to establish a truly nationwide presence. According to Rana, the company is strategically positioning itself in all four corners of India to better serve its growing clientele.

Currently, the group operates key facilities in the Sarigam Industrial Area in Valsad, Gujarat, and the Wada Industrial Area in Palghar, Maharashtra. It also maintains a strategic presence near the Nhava Sheva port to streamline logistics and export operations.

The company is now focusing on the next phase of its growth by moving into the southern and eastern regions of the country.

New facilities are currently under construction in Chennai and Haldia, West Bengal.

Current production capacity stands at 19,000 to 20,000 tonnes per month across all products. The upcoming expansion will significantly increase scale, as with the two new plants, it will add 200–250 containers per month, which is around 6,000–6,500 tonnes.

Total capacity projection is estimated to reach between 25,000 to 26,000 tonnes per month.

While global expansion is part of the roadmap, the immediate focus remains India.

“We see a lot of opportunities within the country and want to capture them first before going outside,” said Rana.

Beyond operations, Dashmesh Group is focusing on awareness and education.

“We are educating overseas suppliers on how to make these products more usable in daily applications. This is critical given rising waste volumes,” he explained.

He added, “The waste tyres on the planet are increasing day by day, and this needs to be controlled. The goal is clear, which is to provide the best solution and best destination for these materials.”

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