LIMDA, India — Apollo Tyres Ltd. has inaugurated production at a dedicated facility to make radial and bias-ply two-wheeler tires at its existing plant in Limda, in the western Indian state of Gujarat.
The new production base is central to Apollo's goal of becoming the leading brand in the India's premium two-wheeler segment, which constitutes nearly 20% of the two-wheeler market in India, which boast the largest market globally for such tires.
Inaugurated virtually by Chairman Onkar Kanwar on July 15, the plant has an initial production capacity of 30,000 radials and 60,000 bias-ply tires per month. The plant, opened in 1991, is Apollo's only site for two-wheel tires.
Having been set up in a modular layout, the 108,000-sq.-ft. facility can increase production based on demand by replicating the modules, Apollo said without disclosing its investment in the new capacity.
According to Apollo, the segment is growing fast due to urbanization trends, rising consumer income levels and increasing young population. The COVID-19 pandemic has also driven demand as people are moving away from shared/public transport.
"We are aiming for a strong foothold in the high-value, highly profitable premium motorcycle tire market," Neeraj Kanwar, vice chairman and managing director, said.