JK TYRE & Industries is investing some Rs1,430 crore to increase radial tyres capacity at its Chennai plant. It says that an additional eight lakh tyre per year capacity for truck and bus radial tyres and 20 lakh tyre per year capacity for car radial tyres are underway.
The company is also spending Rs140 crore at its Mexican subsidiary Tornel to increase capacity by 18% from its present capacity of 3.2 million tyres. The Mexican capacity increase comes in phases: an investment worth Rs 140 crore will be alloted during the first phase in the next 10 months.
Thereafter, JK Tyre will introduce Tornel brands in India, notwithstanding that it had also launched 10 new tyres for passenger cars, truck and light commercial vehicles and is now targeting an increase of Rs300 crore in its turnover.