Tyre maker Maxxis India Tuesday said it has partnered with Hero MotoCorp for supply of tyres to the world's largest two-wheeler manufacturer.
This is the second such partnership announced by the tyre maker in the recent past. Earlier it had entered into a pact with Japanese two-wheeler maker Honda Motorcycle & Scooter India for a similar arrangement.
As part of this association, Maxxis will supply M6000 front and rear tyres, the company said in a release.
The first consignment has already been rolled out of the companys Sanand manufacturing facility in Gujarat, it added.
The move is a part of the Maxxis India plans to corner at least 15 per cent of the domestic demand by 2023, it said.
A part of Taiwan-based Maxxis Group, Maxxis Rubber India has set up a tyre manufacturing facility at Sanand at an investment of around Rs 2,640 crore with a capacity to produce around 20,000 tyres and 40,000 tubes per day.
It aims to triple production volume in the current year, it said.
"We continue on fulfilling our India growth targets. The tie-up with Hero MotoCorp a big step towards realising our vision of capturing 15 per cent of Indias 2-wheeler tyre market by 2023," said Chun-Hsuan Liu, plant head, Maxxis India.
This association will be pivotal to the company's overall growth and help it achieve its target to triple the production volume in FY19, he added.
According to Maxxis, India market is set to play a vital role in achieving the company's global vision to become one of the top five tyre manufactures in the world by 2026.
Apart from catering to the domestic tyre market, the product portfolio from the Sanand facility will be exported to South Asia, and will further expand to Africa and Middle East countries in the coming years, the release said.
The company also has plans to set up five more plants in India which will also cater to the 4-wheeler tyres market.
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