Maxxis India, the Indian subsidiary of Taiwanese-based tyre-maker, plans to set up five additional manufacturing plants in the country.
The company, on Monday, rolled out its first two-wheeler tyre consignment from its Sanand facility to Honda Motorcycle & Scooter India. It has been supplying OEM (original equipment manufacturer) tyre fitment to the Japanese subsidiary through its Vietnam facility since 2016.
The Sanand facility is currently manufacturing two-wheeler tyres and tubes. The plant has a capacity to produce around 20,000 tyres and 40,000 tubes a day.
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Production from the first phase of the India facility began in August 2017. The company aims to supply one million tyres to its OEM partners by the end of this year.
Maxxis India is targeting to capture a market share of at least 15% of the country’s two-wheeler tyre market by 2023, according to a company release.
“The company has plans to set up five more plants in India which will also cater to the four-wheeler tires market,” according to the statement.
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Maxxis is a wholly-owned subsidiary of Cheng Shin Rubber Ind. Co. Ltd., the ninth largest tyre company in the world. The company has its presence in six continents with 21 manufacturing plants and five research and development centres worldwide, serving customers across 180 countries.