APOLLO TYRES AIMS FOR LEADERSHIP IN PREMIUM TWO-WHEELER SEGMENT IN INDIA. இந்தியாவில் பிரீமியம் இரண்டு-வீலர் பிரிவில் லீடர்ஷிப்பிற்கான அப்பல்லோ டயர்ஸ் நோக்கம்
APOLLO TYRES AIMS FOR LEADERSHIP IN PREMIUM TWO-WHEELER SEGMENT IN INDIA
Apollo Tyres is aiming for leadership in the premium two-wheeler segment in India, to service the global markets with high-end bias and steel radial tires. The premium segment constitutes nearly 20 percent of the two-wheeler market in India, and is the fastest growing one. This segment is witnessing an increasing shift and growth due to rapid urbanization, rising consumer income levels and increasing young population, which is driving the demand for tires, as well, in this category. India is the largest two-wheeler market in the world, and still has 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 tires in this category. Commenting on the leadership drive in the premium two-wheeler segment, Neeraj Kanwar, vice chairman and managing director, Apollo Tyres Ltd., said, “We are aiming for a strong foothold in the high-value, highly profitable premium motorcycle tire market, which caters to the top 20 percent of the motorcycle market in India, and the entire Europe and Americas market. We now have a global portfolio of high-end bias and steel radial tires for the two-wheeler segment, which will be produced at our highly advanced and futuristic facility in Vadodara, Gujarat.” To service this growing segment, Apollo Tyres formally inaugurated a dedicated commercial facility to manufacture two-wheeler radial and cross ply tires. The plant was inaugurated virtually by the chairman, Onkar S. Kanwar, while the vice chairman and managing director, Neeraj Kanwar, and other supervisory board members of the company, also joined on this occasion, along with select business partners. Spread over more than a 10,000 square meter area, this two-wheeler tire manufacturing unit is housed within Apollo Tyres’ Limda plant in Vadodara, in the western Indian state of Gujarat. This facility, which has an initial capacity to produce 30,000 motorcycle radials and 60,000 motorcycle cross ply tires per month, will 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. Entering into the two-wheeler tire business in 2016, Apollo Tyres became India’s first company to launch zero-degree steel radial tires, a global gold standard for motorcycle tires, and now commands a double-digit market share in this segment.
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