Apollo Tyres Limited is a premium company for manufacturing and selling automotive tires, tubes, and flaps in India with international intervention. The company produces tyres for passenger car, sports utility vehicle, multi-utility vehicle, light truck, truck-bus, two-wheeler etc. The company is offering its products under internationally renowned brands such as Apollo, Kaizen, Regal, and Vredestein.
Apollo Tyres Limited was incepted in September 1972, having its headquarter in Gurgaon, India. The launch of a brand-new summer tyre on the market namely Apollo Aspire XP, was announced by Apollo Tyre's, recently in March 2018. With a tremendous development of modern technology, this tyre is providing a compact collaboration of luxurious comfort and utmost security. Right now the Aspire XP is replacing Aspire 4G and Apterra HP tyres.
In 1977, the company initiated its manufacturing at Perambra in Kerala. The company launched its second plant at Limda in Gujarat in 1991. In 1995, the firm gained Premier Tires at Kalamassery, Kerala. In 1996 a tubes plant was developed in Ranjangoan in Maharashtra.
In 2000, an exclusive radial capacity was built up by the company in Limda. On November 2003, a strategic alliance was established between the firm and Michelin, France for creating a joint venture firm, in particular, Michelin Apollo Tires Pvt Ltd for manufacturing dual-branded truck and bus radial tyres in the country. In the year 2004, the company manufactured the nation's first Hi-speed rated tubeless passenger car radial tyres.
In 2005-06, the firm introduced a subsidiary company named Apollo (Mauritius) Holdings Pvt Ltd. in Mauritius along with forming Apollo Automotive Tyres Ltd. and Apollo Radial Tyres Ltd. as subsidiaries of the firm. PTL Enterprises Ltd was incorporated as a subsidiary company in the same year.
The company introduced its full-services branded commercial vehicle tyre outlet for the first time, namely Apollo Trust in Salem, Tamilnadu in 2008. In September 2008, Apollo Tyres launched which is a cross-ply tyre XT-100K. 'Company's 9th global tyre manufacturing unit, which was nationally the fourth one was built up on February 2011.
'Company's entry in the Sri Lankan market took place in June 2011, when it tied-up with Ideal Motors. On May 2012, Apollo Tyres declared that, despite the adverse market conditions, the company had surpassed the milestone of net revenue of US$ 2.5 billion, in the financial year of 2011-12. January 2013 witnessed the inception of a premier-class Research & Development centre in Enschede, Netherlands. The company introduced its sales office in Bangkok in May 2013.
Apollo Tyres and Cooper Tire & Rubber Company (NYSE: CTB) went for executing a merger agreement on June 2013. This confirmed that Apollo would acquire Cooper, under the complete cash transaction of Rs.14500 crore.
In October 2015, the company started its first branded retail outlet in Lebanon. In the same year, the company introduced its two branded retail outlets residing at Amman, Jordan. Three new truck-bus radials such as Apollo Tyres launched Apollo EnduRace RD HD, Apollo EnduMile LHD and Apollo EnduComfort CA were introduced by the company in September 2016. Apollo 'Tyre's formal tyre manufacturing unit in Hungary was established in April 2017. This unit is Apollo Tyre's first Greenfield facility outside India, at a distance of 100 kilometres from the capital city Budapest.
Apollo Tyres declared the introduction of its two-wheeler tyres in Sri Lanka in July 2017. Having a good acceptance throughout the entire market of Sri Lanka, the company is currently manufacturing and providing services for near about 250000 to 300000 vehicles each year. On September 2017, Vredestein, company's premier tyre brand, had been chosen as a fitment on the Volkswagen Polo, SEAT Ibiza and Ford EcoSport, and the tremendous works have already started to supply these European Original Equipment Manufacturers.
Apollo Tyres inaugurated an ultra-modern world-scale production facility centre at Apollo Chinnapanduru village, Chittoor district, in Andhra Pradesh, on January 2018.
How Apollo Tyres Ltd, is categorised as a Tyres Sector, and Tyres & Tubes Industry :
The Indian Tyre and Tubes industry is ancillary o the automobile industry. Demand swings in any of the auto segments(commercial vehicles, cars, two-wheelers) have an impact on the tyre demand. The Indian tyre industry is in the modernization phase and is primarily driven by demand and supply conditions.
Apollo Tyres is categorized under Tyres sector and Tyres and Tubes industry. Tyres sector has been cruising fast and steady for nearly nine years now. Many stocks from this sector have grown in thousand percentage points over this period. Tyre sector is directly or indirectly influence the country’s growth. Globalization has driven to the linking of the economies of all the nations, and hence major Indian companies in the tyre sector are pursuing global strategies to improve their competitiveness in world markets.
Apollo Tyres Ltd, Competitors and Sector Peers:
Balkrishna Industries Ltd. BALKIN
Goodyear India Ltd. GOODYI
Govind Rubber Ltd. GOVRUB
Innovative Tyres & Tubes Ltd. INNTYR
JK Tyre & Industries Ltd. JKTYR
Krypton Industries Ltd. KRYIND
Tirupati Tyres Ltd. TIRTYR