Apollo Tyres looks at expanding business in the United States

Published On 04-Jun-2016By TyreDekho Team

Apollo Tyres looks at expanding business in the United States

Indian tyre manufacturer Apollo Tyres is busy hiring a sales team to expand its business in the United States. Two years ago, the company failed to acquire US-based Cooper Tire & Rubber for $2.5 billion. Apollo's bid for Cooper didn't go through due to legal battles. Therefore, the company has to do a lot of work to expand its business in the US, which otherwise would have been easier if the Cooper deal had been successful.

Apollo's vision to become a global brand is also to reduce its dependency on the domestic market where the vehicle sales are recovering after a down turn. The company plans to invest $400 million over the next 3-4 years.

Apollo Tyres is the second largest tyre manufacturer in India but it also faces threat from the growing competition from the replacement tyres imported from China.

According to the industry data, tyre imports from China have increased by 60 per cent in the financial year ending March 31, 2014.

Gaurav Kumar, Chief Financial Officer, Apollo Tyres said, "We are now looking at the US market through organic growth lens." Kumar added that by 2020, Apollo's revenues outside of India are expected to rise to 40 per cent from about 35 per cent today, as it expects to double its sales from Europe and ASEAN (Association of South East Asian Nations) over the period.

After the Cooper deal collapsed in 2014, the company said that it would invest $540 million to build a manufacturing plant in Hungary. The plant is expected to become operational in 2017.

The company confirmed that it has plans to become OE supplier to the car makers operating in Europe like Volkswagen AG, Suzuki Motor Corp and Daimler AG that have their manufacturing facility close to Apollo's upcoming Hungary plant.

You Might Also Be Interested In

Latest Tyres

  • Car
  • Bike
  • Truck
  • SPORTRAD
    SPORTRAD
    110/70Z R17 54W
    Rs5,999
    • iconBike Tyre
    • icon
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Zapper C1
    Zapper C1
    90/100 R10
    Rs1,345
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Centauro NS
    Centauro NS
    190/55 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Smart Blaze RYDR BR43
    Smart Blaze RYDR BR43
    140/70-17
    Rs4,200
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Conta 725
    Conta 725
    90/90 R12
    Rs1,490
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • icon5
    M6303
    M6303
    90/90 R12 54J
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • BT SPORTMAXX
    BT SPORTMAXX
    140/70 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Feelfree
    Feelfree
    120/70 R15 56H M/C
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers

Best Tyres

  • Car
  • Bike
  • Truck
  • SecuraDrive
    SecuraDrive
    205/60 R16
    Rs6,870
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • Fuel Smarrt
    Fuel Smarrt
    165/80 R14 85T
    Rs3,720
    • iconCar Tyre
    • iconTubeless
    • iconFuel efficient
    • iconDry Grip
    View April Offers
  • Sturdo
    Sturdo
    205/55 R16
    Rs10,814
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • ZVTV
    ZVTV
    185/65 R15 88T
    Rs4,299
    • iconCar Tyre
    • iconTubeless
    • iconWet Grip
    • iconDry Grip
    View April Offers
  • Milaze
    Milaze
    145 R12
    Rs1,976
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View April Offers
  • ZLX
    ZLX
    165/80 R14 85T
    Rs4,683
    • iconCar Tyre
    • iconTubeless
    • iconWet Grip
    • iconDry Grip
    View April Offers
  • icon5
    Energy XM2
    Energy XM2
    165/70 R14 81T
    Rs3,880
    • iconCar Tyre
    • iconTubeless
    • iconHandling
    • iconWet Grip
    View April Offers
  • icon5
    Earth-1E400
    Earth-1E400
    185/65 R15 88H
    Rs6,563
    • iconCar Tyre
    • iconTubeless
    • iconFuel efficient
    • iconHandling
    View April Offers
×
Which is your city ?