The car that runs on air: a video review of the revolutionary new air-filled tyre.
Tyre Nichols is a startup that has developed a revolutionary new type of tyre, one which can be filled with air and then pumped up to different levels. The tyres are also lighter than traditional tyres, meaning they will help to save on fuel consumption. However, the company was not able to make its product available for sale in time for the 2021 model year. Here’s why.
What is Tyre Nichols?
Tyre Nichols was founded in 2013 by Bill Nichols, who had previously worked at Michelin and Pirelli. The company started developing its air-filled tyres in 2015 and initially planned to bring them to market by 2019. However, this initial plan was not met due to problems with manufacturing costs and delays with getting regulatory approval from government bodies.
Why wasn’t Tyre Nichols able to get its tyres onto cars?
The problem for Tyre Nichols came down to cost – the company needed more funding but wasn’t able to secure it because of how expensive it would be for car manufacturers to retrofit their vehicles with Tyre Nichols’ tyres.
“So far we have been unable to raise the capital we need because we are too early stage,” said Bill Nicholls in a statement issued on October 27th 2021.
“In our view it will take three years before there is sufficient demand from major car makers such as Toyota, Ford or General Motors.”
“This is something they do not want or need now.”
“We are talking about $1 billion of capital investment over three years.”