Apollo Tyres is planning to open a new manufacturing facility in Andhra Pradesh and has signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh and will invest approximately Rs 525 crore in the facility. Currently, the company is having four manufacturing facilities across the country ( 2 in Kerala, 1 in Gujarat and Tamil Nadu each). In the international markets, Apollo Tyres has one plant in Netherland, while a Greenfield facility is presently being set in Hungary.
For the new manufacturing unit in Andhra Pradesh, the MoU was signed by Sunam Sarkar, Director, Apollo Tyres and Kartikeya Misra, IAS, Director of Industries, Government of Andhra Pradesh in the presence of N Chandrababu Naidu, Honourable Chief Minister, Government of Andhra Pradesh and Onkar S Kanwar, Chairman, Apollo Tyres.
On this occasion, Onkar S Kanwar, Chairman, Apollo Tyres,said, “I would like to thank Shri Chandrababu Naidu Ji for the support offered to Apollo Tyres, and look forward to working with the State Government for the setting-up of our state-of-the-art manufacturing facility. ”
N Chandrababu Naidu, Honourable Chief Minister of Andhra Pradesh, said, "I am extremely pleased to announce this significant investment by Apollo Tyres to build a world class facility in Andhra Pradesh. Our endeavour to provide superior infrastructure and ensure full government support to companies has seen the state emerge at the top of the Ease of Doing Business index in the country.”
Apollo Tyres is the 17th largest tyre manufacturers in the world. The company is having 5,000 dealerships in India out of which 2,500 are exclusive outlets. In March 2016, Apollo Tyre also entered into the two-wheeler tyre segment. In the first phase, the company is planning to cover 85 percent of two-wheeler market and in the second phase, they will launch radial tyres for the higher displacement bikes.