Tyre maker Goodyear India is evaluating to enter various segments, including commercial vehicles tyres, as part of plans to expand operations in the country, a top company official said today.
The company, which today launched a new tyre range -- Assurance TripleMax 2, caters to six segments globally, including tyres for passenger vehicles (PVs), commercial vehicles and aircrafts, but in India it is confined to PVs and farm verticals.
"We are keenly looking at all the main product lines that exist in the market. Farm and consumer we are already there. Other product lines, we are also looking and considering. As and when we have the opportunity, will definitely consider," Goodyear India Vice President (Consumer Business) P K Walia told reporters here.
In commercial segment, the company is looking at the opportunity, he added. "As and when the decision is taken, we will act on it," Walia said.
He said the company sells various kinds of tyres like the ones catering to aircraft even when these are not manufactured in the country.
"Some of the products are imported and sold," Walia said.
Goodyear has two manufacturing facilities in the country -- one each at Ballabgarh in Haryana and Aurangabad in Maharashtra. It caters to a range of OEMs across PV and farm segments.
Walia said the company may also get associated with motorsport events in the country although it is yet to finalise anything concrete about the initiative, he said.
"No immediate plans in India. Cannot rule out future possibilities," he said when asked if the company is looking to get into motorsports in India.
Various tyre makers -- including MRF and JK Tyre are currently associated with various kinds of motorsports events in the country.
When asked if Goodyear is working to develop solutions for emerging segments like electric vehicles, Walia said the company is working on a range of future products, including tyres specifically for electric vehicles.
Goodyear utilises its two innovation centres at Ohio and Luxembourg to develop new products.
Bullish on growth prospects in the country, Walia said: "We are very excited about the market. India presents a great opportunity for growth. Economy is doing well, it has critical mass and it presents a great opportunity for us to participate in that growth."
The company grew by 5 per cent last fiscal in the country and is optimistic about a strong performance this year, he added.
Commenting on the new range, Walia said the tyres would cater to mid-passenger segment.
"We are confident that new Assurance TripleMax 2 will allow drivers to experience better wet braking and handling performance," he said.
The new range, with ten sizes, would be produced from company's Aurangabad facility, he added.
Akron (Ohio, the US) headquartered Goodyear is one of the world's largest tyre companies. It employs about 64,000 people and manufactures products across 48 facilities in 22 countries.
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