Apollo aims to gain market share in Europe.
Apollo Tyres aims to gain market share in Europe through the new Hungary plant.
With its Hungary plant going on stream, Apollo Tyres expects to increase its share in Europe market to 3.5% compared to a current market share of about 2.4-2.5%.
Apollo will commence supplies to major OEM customers including Volkswagen and Mercedes-Benz.
Apollo Company’s Vision 2020 for Europe is to be a premium brand, both in terms of size and price. The Hungary facility will produce 5.5 million tyres and is expected to ramp up in by 2018-2019.