Here's why tire companies love EVs

The tire business is a business of low growth, low margins and extreme competition. Tire makers are at the mercy of of raw material prices. And about half of customers are largely indifferent to the brand of tires they buy. Price is the main differentiator. But industry analysts say EVs provide tire makers with the biggest growth opportunity they have seen in decades. AlixPartners estimates that tires on EVs require 20 percent more frequent replacement and can cost 50 percent more.