One of India’s leading tyre manufacturers, Apollo Tyres, has expanded its presence in Sri Lanka, becoming a full-range player in the country’s tyre market with the launching of its two-wheeler tyres.
Rajesh Dahiya, Group Head, Sales (India, SAARC & Oceania), Apollo Tyres Ltd and Jagath Samarsekhara, CEO, Ideal Wheels & Tyres, launched Apollo’s two-wheeler tyres in the island nation in the presence of the company’s business partners and customers.
Since its introduction in the Sri Lankan market in 2011, Apollo’s products have been well accepted across the country; and, this has prompted the company to introduce its two-wheeler range as well to service the estimated 250,000 to 300,000 vehicles a year market.
Sri Lanka contributes over 20% of the company’s exports to South Asian Association for Regional Cooperation (SAARC) countries. The roads and vehicles in Sri Lanka are very similar to that of India, claims the company.
Satish Sharma, President, Asia Pacific, Middle East & Africa (APMEA), Apollo Tyres Ltd said “With Sri Lanka being the top island economy of the future, and FDIs in the country increasing nearly 150% in 2016, we see this is as an opportunity for us to increase our focus here.”
“We are looking at capitalising on the increasing automotive sales, especially the two wheelers. We are using our Indian experience on the kind of tyres, services and training required to allow vehicle owners in this country to maximise on products’ performance.”
This step is in line with the company’s Vision 2020 – ‘To be a premier tyre company with a diversified and multinational presence’.
Apollo Tyres also made an earlier announcement regarding the setting up of its fifth Indian manufacturing plant in the state of Andhra Pradesh to create capacities for the two-wheeler tyre and other emerging product categories.