India’s Apollo Tyres (Apollo) has virtually inaugurated a new manufacturing facility housed within its plant in Vadodara, in the western Indian state of Gujarat. Spread over more than 10,000 sqm. the modular facility will produce two-wheeler radial and cross ply tyres for the premium segment of the two-wheeler industry – it has an initial capacity to produce 30,000 motorcycle radials and 60,000 motorcycle cross ply tyres per month.
Already commanding a double-digit market share inthe premium two-wheeler segment in India, Apollo is aiming to secure leadership in the segment and service the global markets with high-end bias and steel radial tyres. The premium segment constitutes nearly 20% of the two-wheeler market in India. The increasing demand for tyres in this category can be attributed to rapid urbanisation, rising consumer income levels and increasing young population.
In addition, due to COVID-19, many Indians are also moving away from shared/public transport and gradually moving to own a personal vehicle, including a two-wheeler, further driving the demand for tyres in this category.
At the virtual event, Neeraj Kanwar, Vice Chairman and MD, Apollo Tyres, said, “We are aiming for a strong foothold in the high-value, highly profitable premium motorcycle tyre market, which caters to the top 20% of motorcycle market in India, and the entire Europe and Americas market.
“We now have a global portfolio of high-end bias and steel radial tyres for the two-wheeler segment, which will be produced at our highly advanced and futuristic facility in Vadodara, Gujarat.”