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.

Balkrishna Industries Ltd (BKT) reported record quarterly sales volumes in its core off-highway tyre (OHT) business in the first quarter of FY27, supported by robust demand across India, Europe and the Americas, even as rising raw material costs, freight inflation and geopolitical disruptions squeezed margins.

The company posted 16 percent year-on-year growth in OHT sales volumes to 93,770 metric tonnes, while standalone revenue rose 24 percent to INR 34.09 billion. EBITDA increased to INR 7.03 billion, representing an EBITDA margin of 20.61 percent, while profit after tax reached INR 4.32 billion.

"Q1 started on a positive note for us. We delivered our highest quarterly sales volume in the OHT segment," Rajiv Poddar, Joint Managing Director, said. He noted that the performance came "despite the challenges across many international geographies and end markets, as well as within the supply chain of the world", highlighting the resilience of demand across key markets.

Management said profitability was affected by higher raw material prices stemming from global supply chain disruptions and geopolitical tensions, although the impact was partly offset through price increases introduced during the quarter.

BKT accelerates investment programme

BKT continues to advance one of the largest expansion programmes in its history.

The company has already invested approximately INR 38 billion under its broader INR 68 billion capital expenditure programme, with around INR 30 billion yet to be deployed. Of the remaining investment, INR 15-20 billion is expected to be spent during FY27 after capital expenditure of about INR 10 billion in the first quarter.

Completed projects include:

• Commissioning the second phase of its carbon black facility at Bhuj, increasing annual capacity to 360,000 tonnes, with an investment of INR 8 billion.
• Expanding captive power generation capacity from 40 MW to 64 MW, involving an investment of INR 1.25 billion.

"All the balanced CapEx projects, which are amounting to approximately INR 30 billion, are progressing as per schedule,” added Poddar.

On-highway business begins commercial rollout

Beyond its dominant OHT franchise, BKT has formally entered India's truck and bus radial (TBR) and two-wheeler tyre markets.

The company began commercial supplies after establishing its distribution network during the quarter and reported encouraging initial customer response. Although management declined to disclose revenue or volume figures given the early stage of the business, it expects sales to begin ramping up from the second quarter. "Having seeded the business in Q1, we expect a gradual ramp-up starting in Q2," Poddar said.

The long-term target remains INR 50 billion in on-highway tyre revenue by 2030. Satish Sharma, Senior President and Director of Strategy and Business Development, said FY27 would focus on expanding the portfolio before accelerating growth. "The vision statement states that INR 50 billion revenue from on-highway tyres by 2030. We're standing on that figure... FY 2028 onwards will be serious business."

India becomes larger contributor

India accounted for 40 percent of total volumes during the quarter, driven by demand from agriculture, construction, mining and industrial applications. Management said infrastructure investment and market share gains continue to support domestic growth, although margins in India remain marginally below export markets.

BKT estimates its market share at 18-19 percent in India, 7-8 percent in Europe and 3-4 percent in the United States, with inventory levels across key markets remaining normal.

Management also expects the US business to recover to its historical contribution of 15-16 percent of revenue, supported by improved tariff clarity and stronger brand positioning.

Inflation remains the principal challenge

BKT introduced approximately 5 percent price increases during the first quarter, with the full benefit expected to be realised in Q2. "We have taken on a price hike of about 5%, scattered across the various parts of the quarter. You will see the full passthrough coming in this quarter," Poddar said.

However, management said raw material costs have also increased by around 5 percent, potentially reducing margins by roughly 2 percentage points despite the pricing action.

Freight costs currently represent about 5 percent of revenue, with executives warning that continuing geopolitical tensions could lead to further increases.

The company also identified supply chain disruptions, vessel availability, container shortages, weather conditions in Europe and monsoon variability in India among the principal risks for the coming quarters.

Cabot Corporation has announced a significant leadership transition, with President and Chief Executive Officer Sean Keohane set to retire from his roles and step down from the Board of Directors, effective 30 September 2026. The company has elected Executive Vice President, Chief Financial Officer and Head of Corporate Strategy Erica McLaughlin to succeed him. McLaughlin will assume the positions of President and CEO, in addition to joining the Board as a member of the class whose term concludes at the 2029 Annual Meeting of Stockholders, effective 1 October 2026.

To facilitate a seamless handover, Keohane will remain with Cabot in an advisory capacity through the end of the 2026 calendar year. Concurrent with McLaughlin’s elevation, the company has initiated a formal search process to identify her replacement as Chief Financial Officer.

McLaughlin brings over two decades of experience to her new role, having joined Cabot in 2002 and holding various senior leadership posts across finance, strategy and the Reinforcement Materials division. Since assuming her current position in 2018, she has been instrumental in shaping corporate strategy and driving operational discipline. Her prior roles included Vice President of Business Operations for Reinforcement Materials, General Manager of its tire business and Vice President of Investor Relations. Beyond Cabot, she contributes her expertise as a board member for Azenta Life Sciences and as an advisor to FM Global.

Keohane’s distinguished tenure spans nearly 25 years, with his service as President and CEO beginning in 2016. His leadership was marked by significant portfolio refinement, the strengthening of core businesses, and the successful expansion into battery materials. He also advanced the company’s sustainability agenda and commitment to operational excellence, delivering robust performance and sustained shareholder value throughout his career.

Board Chair Michael Morrow said, “Erica brings deep industry expertise and a strong understanding of Cabot’s businesses, markets and global operations. This experience, coupled with her commitment to the company’s long-term strategic priorities, positions her exceptionally well to lead Cabot. Our decision to appoint Erica as the next President and CEO reflects a thoughtful and deliberate succession planning process. Her deep knowledge of the organisation and commitment to the values and culture that have been integral to Cabot’s success will provide continuity as we execute this leadership transition. We believe she brings the leadership, discipline and strategic clarity needed to lead Cabot forward and deliver on our long-term vision.

“The Board is deeply appreciative of Sean’s exceptional leadership and distinguished career at Cabot. We extend our congratulations on a well-deserved retirement. During his tenure as CEO, Sean provided strong, steady and thoughtful leadership, focusing the company’s portfolio around its core businesses and advancing new strategic long-term growth priorities. His collaborative leadership style has strengthened our organisation and leadership team, leaving a strong foundation for continued success in the years ahead.”

McLaughlin said, “I am deeply honoured to succeed Sean as President and CEO and lead Cabot into our next chapter. Having been at Cabot for close to 25 years, I know firsthand the strength of our people and our businesses. I look forward to working with the Board and our global team to build on our success, grow the company by supporting our customers with innovative chemistry solutions to advance their businesses and create value for our stockholders.”

Keohane said, “It has been a tremendous privilege to lead Cabot and to work alongside such a talented and dedicated global team. I am incredibly proud of what we have accomplished together and the foundation we have created. I am confident Cabot is in excellent hands under Erica’s leadership. We have worked side by side for almost my entire tenure as CEO and I have seen first-hand her strong leadership, operational discipline and sharp strategic mind. Erica is a trusted and highly capable leader with deep knowledge of our business and a commitment to our people, the culture and the unique heritage of this great company. I look forward to supporting a seamless transition in the months ahead.”

Robin Wiener, President of the Recycled Materials Association (ReMA), has been appointed to the Board of Directors of the Tire Recycling Foundation (TRF). Her appointment recognises her leadership within both the recycled materials and tyre manufacturing sectors. In this new capacity, Wiener will support the Foundation's mission to enhance the tyre recycling supply chain and foster the growth of innovative markets for recycled tyre materials.

TRF, a joint initiative led by the U.S. Tire Manufacturers Association and the Tire Industry Association, aims to drive circularity and sustainability in the US tyre recycling industry. Wiener joins a board of global industry leaders dedicated to securing funding and allocating grants for critical research and demonstration projects.

Apollo Tyres Chairman Onkar S. Kanwar has said the company remains focused on disciplined execution, sustainability and long-term value creation as it navigates geopolitical uncertainty, changing trade dynamics and a challenging global business environment.

Addressing shareholders at the company's 53rd Annual General Meeting (AGM), Kanwar said FY26 had been a year that tested businesses worldwide, but Apollo Tyres had continued to strengthen its financial performance while investing for future growth.

"The future is not something we inherit. It is something we create through the choices we make every day," Kanwar told shareholders, quoting Mahatma Gandhi's observation that "The future depends on what we do in the present."

Apollo Tyres reported consolidated revenue of INR 284.71 billion for FY26, crossing the INR 280 billion milestone, while operating profit rose to INR 41.43 billion. Kanwar said the company's focus extended beyond financial performance to improving capital efficiency, operational discipline and profitable growth.

"Every important decision we take is driven by one simple question: Are we building a stronger company for tomorrow?" he said.

Kanwar also highlighted the company's efforts to strengthen the Apollo Tyres brand through its association with the Indian national cricket team, describing the partnership as one that reflected Apollo Tyres' values of resilience, determination and excellence rather than merely serving as a branding exercise.

Sustainability remained central to the company's strategy, he said, noting that Apollo Tyres' greenhouse gas emission reduction targets had been validated by the Science Based Targets initiative (SBTi), reinforcing its commitment to achieving net-zero emissions by 2050.

The company continued to expand the use of renewable energy while improving responsible sourcing and resource efficiency across its operations, Kanwar said. "Sustainability is no longer a separate agenda for Apollo Tyres; it has become an integral part of how we innovate, manufacture and grow."

Kanwar credited employees for the company's performance, describing their commitment and adaptability as the foundation of Apollo Tyres' continued progress. He also acknowledged the support of governments and institutions across the markets where the company operates.

He singled out Hungary as a key manufacturing base in Europe, saying Apollo Tyres' plant at Gyöngyöshalász reflected the benefits of long-term collaboration with the Hungarian government.

Looking ahead, Kanwar expressed confidence in the company's growth prospects, citing India's expanding market opportunities and Apollo Tyres' international manufacturing and distribution footprint.

"Uncertainty will always be a part of business, but organisations that remain true to their values, continue to innovate and invest responsibly will be best placed to succeed," he said.

Thanking shareholders, customers, dealers, suppliers, financial institutions and government partners for their continued support, Kanwar said Apollo Tyres remained committed to building "a company that is stronger, more resilient and more responsible with every passing year."