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Apollo Tyres' Chittoor facility has rolled out its first batch of tyres on 25th May. The new plant in Chittoor district of Andhra Pradesh is Apollo Tyres' 7th manufacturing facility globally and 5th in India.
Earlier this week, Apollo Tyres reported that it was able to generate 270.5% year-on-year increase in consolidated net profit at almost Rs 289 crore during the last quarter. This was a result of recovery in tyre sales of commercial vehicles in India and overall sales recovery seen in Indian market.
The new Apollo plant is located in Chinnapanduru village, and it is spread across almost 256 acres. The company is planning to invest almost Rs 3,800 crore during the initial phase of this manufacturing facility.
The company is planning to gradually increase the production at this facility over the next 12-18 months. This decision to gradually hike the production capacity to produce 15,000 units of passenger car tyres and 3,000 units of truck tyres in a day by 2022 comes by foreseeing the demand for tyres that will improve gradually.
The plant has been built from the ground-up for a modular layout. This will allow the capacity at this facility to be replicated and altered with the least number of engineering challenges and subsequent investments.
Thoughts On Apollo Tyres' New Manufacturing Plant In Chittoor
Apollo is the market leader in the commercial tyre sector in India, accounting for almost 60% of the country's overall commercial tyre sales. The new plant will help meet demand and strengthen Apollo's market position. It will also be a foundation for the brand's growth in Indian market and International markets.