Goodyear Tire's transformation plan is underway — in the sky and on the ground

Goodyear Tire & Rubber Co. is facing a rapidly changing business with new technologies and increased competition from low-cost countries such as China .

The 127-year-old company has used more than 300 helium-filled airships to tout its brand.

Activist investor Elliott Investment Management revealed a stake in the company in 2023 .

Goodyear Forward is a two-year transformation plan that ends in December .

The Goodyear Forward plan aims to achieve the goals through a mix of cost cutting, headcount reductions and making the business more efficient.

It's unclear how changing regulations such as President Trump 's tariffs will impact the tire company's business.

Goodyear has expanded its top-tier products to include massive tires for off-road vehicles such as the Jeep Wrangler and Ford Bronco .

The company said low-cost imported tires are largely sourced from Southeast Asia .

At Goodyear 's headquarters, three floors of a historic building for the company that was built in 1916 continue to produce racing tires.

In the building is a multimillion investment that promises to cut research and development costs and time, while improving product profits.