In line with its aggressive expansion plans for India, JK Tyre & Industries Ltd. has launched a total of 10 new products covering different product segments-Passenger Cars, Truck and Light Commercial Vehicle. The tyres launched include Ultra High Performance car tyre range called as UX1. These tyres are designed for high end luxury cars such as Audi, BMW and Mercedes. JK Tyre has also launched a new range for hatchback car segment called as Ultima NEO. This tyre helps in fuel savings.
In the commercial segment JK Tyre aims to enhance the customer value proposition by offering next generation products which will help in reducing operating costs of the Truck and Bus operators. With these launches JK Tyre plans to increase its turnover by Rs 300 crores.
Delighted about the launch, Mr. A K Bajoria, President & Director, JK Tyre & Industries Ltd said, “The automotive market in India continues to offer promising opportunity for growth to all and with the launch of this new range, we are hopeful of increasing our market share in high-performance tyre segment significantly. The new range also comes as an aggressive move towards our expansion plans for India which has an earmarked capex of Rs 1,430 crores to increase our truck and bus radial capacity by additional 8 lac tyres per annum and car radial capacity by another 20 lac tyres per year at the Chennai. ”
In addition to focusing majorly in India, JK Tyre is also considering organic and inorganic growth in the emerging markets of South-East Asia. The company currently has 9 plants across India and Mexico with an annual capacity of around 20 million tyres. JK Tyre is committed to growing its footprint across newer geographic regions across the globe.