INSUBCONTINENT EXCLUSIVE:
investment will go into setting up a new plant in Andhra Pradesh and expansion of capacity at its Hungary facility as it forges new ties
with automobile companies Ford, Volkswagen and BMW to serve them in Europe.
The Andhra Pradesh plant will call for an investment of
Rupee3,800 crore, which will create a capacity of 15,000 car radials a day and 3,000 truck tyres once it is commissioned by the first
said.
Apollo has a market share of 30% in the truck and bus radial segment and 19-20% in passenger vehicles, which it is expanding with
increased replacement demand and more original equipment manufacturer contracts.
Demand for tyres in India is such that the company is
consolidated gross sales increased 6% to Rupee14,929 crore in the year ended March 2018 from a year earlier
to cross Rupee20,000 crore by FY20.
