Steelbird International has entered the tyre manufacturing industry last year and plans to expand its retail targets for tyres to 30,000 from the current 3,000 by FY21. The brand used to manufacture automobile components and now began building tyres for two-wheelers and electric three-wheelers. It also exports filters and rubber components. The organisation aims to become one of the top five tyremakers in the country by 2023, stated Manav Kapur, Executive Director, Steelbird International. Moreover, It plans to expand its exports, to collect around one-third of its income from that sector in three to four years, up from the present-day 10 per cent.
Speaking of the government’s policy to mandate electric two-wheelers and three-wheelers by 2025 and 2023 respectively. Kapur stated that there would be a minimal change in product specs and that the infrastructure needed to produce tyres would mostly remain the same. The amount of moving parts required in an EV is 20, whereas, in case of an inner combustion engine vehicle, it is 2,000. The after-sales is also set to be transformed as EVs will not be demanding mechanics, he added.
Kapur said in a statement “Going forward, the big question for all companies is — do we need to continue the growth in the non-EV space the way we are going today and end up with something which is not allowed in three years.” Currently, 99 percent of the trade is non-electric and to support this market, continued investments are required. He also told that there is a demand for better transparency on whether this proposal by NITI Aayog is necessary or not.