Apollo Tyres introduces Vredestein in India to cater premium cars and superbike segments
Apollo Tyres shares jump over 6%
The home-grown tyre major is eyeing around 30 per cent market share in the segment over the next two years with the Vredestein range which would be locally produced from the company's plants in Tamil Nadu and Andhra Pradesh.
Strengthening its product offering further in the Indian market, Apollo Tyres has introduced its European tyre brand Vredestein in the country to cater to premium cars and superbike segments.
The home-grown tyre major is eyeing around 30 per cent market share in the segment over the next two years with the Vredestein range which would be locally produced from the company's plants in Tamil Nadu and Andhra Pradesh.
The company would be selling Vredestein brand of tyres in the replacement market initially. In the later stage the company may leverage its association with global OEMs to have Vredestein ultra high performance tyres as OE fitment.
"The performance segment in both cars and bikes is gaining a lot of prominence and we believe this is the right time for us to introduce the brand in the country," Apollo Tyres Asia Pacific, Middle East and Africa (APMEA) President Satish Sharma told.
