Tire maker Michelin MGDDY has inked an agreement with the South Korean automaker Hyundai Motor to develop next-generation tires for the latter’s premium electric vehicles (EVs). The agreement is a continuance of a five-year partnership signed in November 2017 to manufacture an exclusive tire for the Hyundai Ioniq 5.The recent deal will run for three years, during which both the companies aim to conduct a study on tire wear, tire load and road friction beyond the current degrees of tire temperature and air pressure. They will also explore ways to up the use of eco-friendly materials in tires to about 50% of the total tire weight from the current 20%.The properties of the tires are supposed to contribute to autonomous driving technology via a real-time tire monitoring system. The eMobility-specific properties of the tires add to driving comfort by reducing the noise generated by EVs at high speeds.As the driving range of EVs continues to increase, the next-generation tire technology is critical to ensure the durability of tires, as well as driving performance and electric efficiency under high load.France-based Michelin’s existing experience with the requirements of electric cars will be an added advantage. The partnership pivots on the success of the previous venture of the Hyundai Ioniq 5 and now looks to offer safer and cleaner mobility. Both companies are optimistic about the breakthrough innovation plans coming to fruition and creating synergies in the collaboration.Michelin currently carries a Zacks Rank #5 (Strong Sell). The Zacks Consensus Estimate of its 2022 sales implies year-over-year growth of 27%. The consensus mark for 2022 earnings is pegged at $2.23 a share. The estimate has moved south by 37 cents in the past seven days and implies a year-over-year decline of 8.6%.Shares of Michelin have lost 27.5% over the past year compared with its industry’s 35.5% decline.Image Source: Zacks Investment ResearchKey PicksSome better-ranked players in the auto space are Wabash National Corporation WNC, sporting a Zacks Rank #1 (Strong Buy) and Fox Factory Holdings FOXF and Standard Motor Products SMP, each carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 11.2% over the past year.Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 48.3% over the past year.Standard Motor has an expected earnings growth rate of 5.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 3.1% upward in the past 30 days.Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 7.3% over the past year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Standard Motor Products, Inc. (SMP): Free Stock Analysis Report Wabash National Corporation (WNC): Free Stock Analysis Report Fox Factory Holding Corp. (FOXF): Free Stock Analysis Report Michelin (MGDDY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research