Leading tyre maker Apollo has ventured into the two-wheeler tyre space to become a full-range tyre maker. Until now, the company was manufacturing truck, bus and car tyres.
Unveiling the new products, the company's vice chairman and managing director Neeraj Kanwar said, “We are looking to cater to at least 85% of the two wheeler market with our product range. In the second phase, we will come up with radial tyres for bikes with higher engine capacity".
Acknowledging that Apollo is a late entrant, Kanwar said the company is not scared of competition.
The two-wheeler tyre segment is growing at a compounded annual growth rate of 8.5%. India is estimated to have 120 million two wheeler population.
The two wheeler tyres have been designed and developed by the company's R&D Centre in Chennai.
The company has launched tyres for motorcycles and the fast-growing scooter segment. The range of two-wheeler tyres from the company will be available from today at Apollo's authorised sales channel across the country.