Apollo Tyres draws out aggressive plans for 2020.
Apollo Tyres has reportedly drawn out a multi-product strategy aggressive plans to achieve leadership position across commercial vehicle, passenger vehicle and tractor categories by 2020, supported by strong investments in R&D and branding.
The company plans to enter the two-wheeler radial tyre segment, besides expanding its agriculture product portfolio and setting up a dedicated line for sport utility vehicles (SUVs). In addition, the company plans to add a new brand in the truck bus radial (TBR) segment and double TBR production capacity at a cost of Rs 2,700 crore in Chennai.
Apollo Tyres, which claims to be the market leader in the commercial vehicle space, is now eyeing the same position in passenger car, industrial and agri segments.