Taiwanese Manufacturer Maxxis Tyres have announced to set up five manufacturing plants in India. The manufacturer long term goal in India is to gain up to 15 per cent market share in the two-wheeler segment by 2024. Maxxis entered the Indian market in 2015 and within a year started operations at its brand-new facility in Gujarat. Currently, it is manufacturing two-wheeler tyres and supplies units to Honda Motorcycle, Scooter India and Hero MotoCorp.
Maxxis was founded in 1967 and is a part of Cheng Shin Rubber Industry company. It is also now among the top ten tyre manufacturer globally in terms of sale and aims to be at the number five position globally. The Company has its presence in 6 countries with 21 manufacturing plants and 5 R&D centers worldwide, serving customers across 180 countries.
The Taiwanese tyre maker is currently evaluating the Indian market whether to move forward with the expansion of two-wheeler business in term of manufacturing or begin production for four-wheelers. Maxxis is one of the suppliers to Maruti Suzuki and Mahindra & Mahindra, supplying units manufactured from their Vietnam facility.