Apollo Tyres plans to increase market share in Europe to 3.5% from 2.5%

With the new plant in place, Apollo plans to cater to big names such as BMW and Mercedes-Benz

With the Hungary plant going on stream, Apollo Tyres plans to increase its market share to 3.5 per cent in the next two-three years from the current 2.5 per cent in Europe. And, it plans to start supplying to major brands, including Volkswagen and Mercedes-Benz. It also said the US would be its next stop for building brands.

Apollo Tyres Vice-Chairman and Managing Director Neeraj Kanwar said its Vision 2020 for Europe was to be a premium brand both in terms of size and price. Tyres with or above 16-inch diameter, catering to the top-end segment, is considered as premium tyres.

“This