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French tyre manufacturer Michelin said it will produce 16,000 tonne of truck and bus tyres from its Indian facility this year, a 45% rise from last year.
The company today rolled out its first India-specific range of products, under the name Michelin X Multi, from the facility near Chennai.
Speaking to reporters, Nour Bouhassoun, chairman and president, Africa, India and Middle East of Michelin AIM FZE said, "By the end of this year the production from this facility will be 16,000 tonne. Last year the production was around 11,000 tonne. We are investing every year and the production will be growing every year."
The Indian market is very large with 16 million truck tyres and growing very fast, he added.
The Indian market is very large with 16 million truck tyres and growing very fast, he added.
The facility, in Thervoykandigai, almost 60 kilometers away from Chennai, currently manufactures tyres for medium and heavy commercial vehicles (M&HCV). A small part of the production is exported to countries near India.
The company, which has committed an investment of Rs 4,000 crore in the facility, has room enough to expand the capacity. Around 1,500 employees are working in the factory at present.
Under the Michelin X Multi tyres range, it today launched two new radial tubeless tyres for commercial vehicles specially for Indian road and climate conditions. The tyres will be manufactured in the Chennai facility and would be sold at a price starting from Rs 20,000 excluding local taxes.
