Kumho Tire Co. Inc. has announced that it plans to develop a tyre for Formula One by 2007. Kumho said in a statement that the SK Won30 000 million (US$ 25 million) investment programme "is aimed at providing a platform for Kumho to promote the technological capability and quality of its tyres to a worldwide audience."
The company says it has started making changes to its R&D facilities and intends to begin in-house testing later this year, with full team testing by 2006 or 2007.
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Website for Kumho Tire