CHENNAI, India — Apollo Tyres Ltd. has unveiled a five-year strategic business plan under the moniker "Driving Progress, Together" that addresses changes in the automotive industry such as electrification and autonomous driving.
The plan identifies five pillars — digitalization, technology and innovation, people, brand and sustainability — for concentration. In addition, the company will concentrate on technology as new mobility trends as well as virtual reality and artificial intelligence gain momentum.
Apollo set a target of "being carbon-neutral going forward," without offering a specific timeline. To achieve that, it said, the company will enhance sustainability through increasing the use of renewable materials and reduction in waste.
"Multi-cultural and diverse teams have better business outcomes and are more likely to be innovative and agile," the company said, highlighting the role of its employees.
Furthermore, the tire maker will focus on strengthening its Apollo and Vredestein brands, as part of the five-year program.
"Our industry is going through a sea change, and with the increasing rate of transformation in key areas of our business, it is time for us to embrace that change," Neeraj Kanwar, vice chairman and managing director, said.
Apollo also unveiled its new corporate identity, designed by the London-based company Jones Knowles Ritchie.
Under the current identity, the Apollo Tyres and Vredestein Tyres logos will continue to exist.