Apollo Tyres is set to launch the Vredestein brand of premium tyres in India by mid-2012, sources have told Autocar India. Although Vredestein caters to the high-performance segment, it has studied the demands of the Indian market under the premium segment. It found that in India, low-level and heavy tyres are present in mass segments. The company will carry out certain adjustments to its product line-up before the India launch.
With an aim of expanding its global footprint, Apollo plans to build two new facilities in East Europe and Brazil in the next couple of years at an investment of over Rs 2,500 crore. Back in 2010, Apollo had launched its own brand of tyres in Europe, banking heavily on Vredestein’s prevailing infrastructure. Company insiders have confirmed that Apollo has sealed a deal of providing space-savers for Volkswagen cars in India.
Dipan Sur
Viraaj Bhatnagar
Glenn Noronha
Dhruv Dhaka
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