Leading tyre manufacturer, TVS Srichakra Ltd eyeing for a larger pie in the two and three wheeler tyre industry Tuesday launched a new brand, 'TVS Eurogrip' here.
According to top company officials, the new brand was based on the feedback from consumers and also the company's research and development wing in Milan, Italy.
"We have done well certainly to reach this height. We have a long way to go.. we see tremendous growth opportunity..," TVS Srichakra Ltd., Director, P Vijayaraghavan told reporters after unveiling the new brand.
The Tamil Nadu based company unveiled 19 premium tyres that includes a 'zero-degree steel belted radial' tyres in the country.
To a query, he said the company would produce the new range of tyres at its facility in Madurai and also at Uttarakhand unit.
Company's Executive Vice-President, P Madhavan, the unveiling of new range of tyres was in the backdrop of the industry witnessing a growth over the last few years.
Citing a report, he said industry grew at 8-9 per cent whereas the company was witnessing a growth of 15 per cent CAGR (compounded annual growth rate) year-on-year.
On the launch of the new brand, Madhavan said the new logo gives the brand a new identity, innovation, youthfulness and for high performance.
Responding to a query, Vijayaraghavan said the company was setting up a test track in Madurai to test tyres for vehicles that can travel at high speeds.
"We are building this test track. It will be for testing the tyres that can be fitted on vehicles travel upto 270kmph..," he said.
TVS Srichakra rolls out 2.8 million tyres every month from the two manufacturing facilities in Madurai and also in Rudrapur, Uttarakhand.
Declining to disclose figures on the qunatum of investments made in launching the new brand, he said "We have a sizeable market share in after market segment. With TVS Eurogrip we are hoping to still look at better times".
Asked whether the newly launched tyres would serve export market, he replied in the affirmative, saying the company was also looking at overseas with the new brand.
TVS Srichakra currently ships its products to over 70 countries.
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