Apollo Tyres inaugurates commercial facility for two wheeler radial and cross ply tyres at Vadodara
Aims for leadership position in the domestic premium two-wheeler segment
Apollo Tyres formally inaugurated a dedicated commercial facility to manufacture two-wheeler radial and cross ply tyres.
Spread over more than 10,000m2, the manufacturing unit is housed within the company's Limda plant in Vadodara.
The facility has an initial capacity to produce 30,000 motorcycle radials and 60,000 motorcycle cross ply tyres per month, to cater to the premium segment of the two-wheeler industry.
With a modular layout of the facility, the capacity can be replicated easily as the demand increases, it added.
It is aiming for leadership position in the domestic premium two-wheeler segment, which primarily comprises high-end bikes.
The company said it is also ready to serve international markets with high-end bias and steel radial tyres.
The premium segment constitutes nearly 20% of the two-wheeler market in India and is the fastest growing one.
"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," Apollo Tyres VC and MD Neeraj Kanwar said in a statement.
The company now has a global portfolio of high-end bias and steel radial tyres for the two-wheeler segment, which will be produced at its manufacturing facility in Vadodara, Gujarat, he added.
The premium segment is witnessing 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, the tyre maker noted.
Apollo Tyres entered the two-wheeler tyre business in 2016.
It was the first company in the country to launch zero-degree steel radial tyres, a global gold standard for motorcycle tyres, and now commands a double-digit market share in this segment, the tyre maker said