Enso Tyres Limited
Enso Tyres Ltd seeks to specifically address the rapidly growing market for the supply of tyres for electric vehicles (‘EVs’).
Unlike traditional tyres used on petrol and diesel vehicles, EVs require a differing tyre compound and tyre design to address the additional torque generated by their electric engines, as well as seek to reduce rolling resistance and extend distance range of the vehicle on a single charge. Currently, very few tyre companies tailor their tyre products specifically for EVs, equipping vehicles instead with tyres that have been designed for traditional internal combustion powered vehicles.
Enso Tyres Ltd seeks to disrupt the existing tyre market by introducing new materials and processes within the production of electric vehicle tyres, alongside a new subscription model. The senior executive team is comprised of experienced tyre specialists and business entrepreneurs bringing together a unique and complimentary skillset, with the intention to develop a new tyre technology designed purely for electric vehicles.
Despite its substantial size, the Company perceives traditional tyre manufacturing as unsustainable and causes significant environmental damage whilst posing a potential hazard to public health due to particulate matter generated from tyre degradation. Tyre manufacturers tend to make the bulk of their profits in the aftermarket by selling replacement tyres to drivers, and this constant need for sales frequency incentivises such firms to produce low durability products from the cheapest materials possible. This has created an industry that delivers products with imbedded obsolescence, a business model that arguably wastes huge quantities of natural resources each year by intentionally shortening the useful life of its tyres.