Apollo Tyres Ltd. (ATL) is aiming for leadership position in the premium twowheeler segment in India, said a top official.
“We are aiming for a strong foothold in the highvalue, highly profitable premium motorcycle tyre market, which caters to the top 20% of the motorcycle market in India, and the entire Europe and Americas market,” said Neeraj Kanwar, vice-chairman and MD, Apollo Tyres Ltd.
“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,” he said.
The plant, spread over more than 10,000 square metre, was inaugurated by CMD Onkar S. Kanwar.
The new tyre manufacturing unit has an initial capacity to produce 30,000 motorcycle radials and 60,000 motorcycle cross ply tyres per month. It will cater to the premium segment of the two-wheeler market.
With a modular layout of the facility, the capacity can be replicated easily as the demand increases, according to a statement.
According to him, The premium segment is witnessing an increasing shift and growth due to rapid urbanisation, rising consumer income levels and increasing young population, which is driving the demand for tyres as well in this category.
“India is the largest twowheeler market in the world, and still has a headroom for further growth.In the current pandemic era as well, there is demand coming in as people are 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,” the company said.
