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Bridgestone invests more than Rs 350 crore in its manufacturing plant. The Japanese tyre manufacturer has announced an investment of over Rs 350 crore in the expansion of its tyre manufacturing unit near Indore, in Madhya Pradesh.
The new investment would bring the plant to its upgraded production capacity of 20,000 tyres per day by 2020. The Indian automotive industry is a growing one. The existing manufacturers are constantly upgrading their product lineup and adding new products as well.
Adding to these are the new incoming automotive companies that are just entering the Indian market. All of these new vehicles require tyres, and the lakhs of existing vehicle owners also regularly require replacement of tyres.
In order to cater to the increasing demand, tyre manufacturers are trying everything possible to increase capacity. Bridgestone is a Japanese tyre manufacturer that was established way back in 1931. After nearly 65 years of producing tyres, Bridgestone officially entered the Indian market in 1996 and set up its first factory at Pithampur, near Indore.
The company then expanded operations and set up yet another factory at Chakan near Pune in 2013. Bridgestone is now one of the largest tyre manufacturers in India with over 3,000 dealerships across the sub-continent. With the growth of the auto industry, Bridgestone too wants to grow and establish its dominance and has hence made the investment.
Parag Satpute, Managing Director, Bridgestone India said, "This expansion is our response to the trust and confidence of our OEM partners in our product offerings. Through this expansion, we also demonstrate our commitment to create value for a larger base of Indian consumers with our world class quality."
"He went on to say, India's growth prospects in the mid to long term future are positive. And, Bridgestone India is ready to take the lead in being a trusted partner to our customers, dealers, consumers, and all other stakeholders at large."
The production facility is set up at an area of around 76 acres and produces tyres for passenger cars of aftermarket customers as well as OEM customers.
Thoughts On Bridgestone Invests Over Rs 350 Crore In India
The entire automotive industry is going through a change that pushes it towards the electric vehicle segment. However, the basic concept of tyres will remain the same even for electric vehicles, hence it makes sense to continue investing in the manufacturing of more tyres.