Mahansaria Group unit Reise Moto forays into two-wheeler tyres | The Financial Express

Mahansaria Group unit Reise Moto forays into two-wheeler tyres

The plant manufactures performance two-wheeler tyres under the brand name Mitas for European and North American markets and under the brand name Reise for the domestic market in India.

Mahansaria Group unit Reise Moto forays into two-wheeler tyres

Reise Moto, a division of Mahansaria Group which specialises in off-highway tyres, on Monday debuted in the two-wheeler segment with off-road and on-road motorcycle and scooter tyres.

The company has joined hands with Europe’s agricultural machine and construction equipment tyre specialist Mitas to manufacture performance two-wheeler tyres in a 76:24 joint venture.

A greenfield plant with an annual production capacity of six million two-wheeler tyres over three phases with a commitment of $50 million (Rs 410 crore) investment has become operational over a 30-plus acre site in Saykha, Gujarat.

The plant manufactures performance two-wheeler tyres under the brand name Mitas for European and North American markets and under the brand name Reise for the domestic market in India.

Under the Reise brand, Reise Moto has launched 26 stock keeping units in Phase 1 under six sub-brands: trailR, tourR, traceR and troopR for motorcycles and tripR and twistR for scooters. The JV is developing a network of distributor partners to sell these tyres.

The Indian two-wheeler tyre space is dominated by Ceat, followed by MRF and TVS Tyres. As per estimates, the domestic two-wheeler tyre industry, comprising tyres for motorcycles, scooters and mopeds, is around 96-103 million tyres a year. As per the Automotive Tyre Manufacturers Association, two- and three-wheeler tyres account for 53% of the industry in terms of volume and 13% in revenue terms. The industry’s size in India is estimated at Rs 70,000 crore.

Also read: Reise Moto two-wheeler tyres launched in India

Yogesh Mahansaria, founder & managing director, Reise Moto said, “In today’s highly dynamic Indian two-wheeler space, the key is to serve the ever-evolving needs and aspirations of enthusiasts who expect a lot more from their machines than just commuting. Reise Moto is a result of our ingrained understanding of the Indian tyre industry, with an aim to bridge the gap in the demand for international quality range of tyres for Indian roads.”

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 29-11-2022 at 02:30:00 am
Photos
8 Photos
Miss Universe 2023: USA’s R’Bonne Gabriel crowned in a glittering ceremony: See Stunning Photos
7 Photos
Nepal plane crash: Flight with 72 onboard crashes near Pokhara International Airport – Images
7 Photos
Business heads run at Mumbai Marathon, more than 50,000 people participate in event – See pictures here