Enso Tyres Lted
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. The Company reports that traditional petrol/diesel type tyres may be suboptimal for EVs for two main reasons;
- Traditional tyres have a higher rolling resistance than those specifically designed for EVs and as such they adversely affect the range of vehicle, resulting in a reduced range on the vehicle battery charge; and
- Due to the higher torque, traditional tyres can often wear out quicker and have to be replaced more often resulting in higher costs, as well as more pollutants into the environment at the roadside.
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 whereby a user effectively leases their car tyres. The Company also intends to offer an outright purchase option to ensure that all markets and customer groups are serviced. 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 potentially serious 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.
The Company is developing the world’s first truly clean tyres that will differentiate themselves from competitors by delivering the following benefits to both B2B customers (automotive manufacturers and fleet owners) and B2C consumers:
- Improved range: lower rolling resistance and weight, enabling EVs to go further on the same charge;
- Higher durability: higher quality materials to reduce wear and tyre dust emissions, allowing customers to drive further before replacement. EVs have a higher torque, thereby wearing out tyres at a faster pace than petrol/diesel-fuelled cars;
- Environmental focus: tyres that are designed from clean compounds to reduce the potential toxicity of tyre dust generated; and
- Circular ecosystem: the Company intends to offer ‘tyres for life’ is designed to ensure cleaner, safer, and easier mobility for EVs, providing a sustainable consumption platform for EVs.