Apollo Tyres is anticipating returns to start accruing from 2021 from the investments it has put in its operations across India and Europe in over the last few years. It has put in close to Rs 4,000 crore in a new facility in Hungary and has also earmarked another Rs 3,800 crore for a greenfield project in Andhra Pradesh.
The company has also invested in upgrading its existing manufacturing plant in Chennai, expanding truck tyre radial production to 12,000 units a day from earlier 6,000 units. The company expects operations to gather steam in Europe in the next financial year as it starts catering to original equipment manufacturers (OEMs) from its Hungary plant.
Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.