JK Tyre & Industries Ltd today launched 10 new products across different segments, including passenger cars and commercial vehicles. The range includes the UX1 ultra high performance car tyre designed for high-end luxury cars such as Audi, BMW and Mercedes, and the Ultima NEO tyre for hatchbacks to facilitate fuel savings. For the commercial vehicle segment, the company launched four bias tyres and three radial tyres.
Speaking about the launch, A K Bajoria, President & Director, JK Tyre & Industries Ltd said that the Indian automotive market offered growth opportunities for all and the company was hopeful it would significantly increase its market share in the high performance tyre segment. The new range was also part of the company’s expansion plans for India, for which the earmarked capex of Rs 1,430 crores would go towards increasing the annual capacity for truck and bus radials by an additional eight lac tyres and for car radials by 20 lac tyres at the Chennai plant.
Vikram Malhotra, VP, Marketing & Sales, JK Tyre & Industries Ltd commented that the company had always focused on R&D and technological innovation to develop products that met customer requirements, key among which were safety, durability, fuel efficiency & handling. The new range was another step in that direction.
V K Misra, Technical Director, JK Tyre & Industries Ltd said that the customer of today demanded more for less, and the company endeavored to innovate and develop products catering to their requirements and making driving a real experience for them.
Company personnel explained that the company hoped to boost its turnover by Rs 300 crores with the new range. The company is also considering organic and inorganic growth in the emerging markets of South-East Asia, in addition to its primary focus on the Indian market. The company currently has nine plants across India and Mexico with an annual capacity of around two crore tyres.
Story: Gaurav Nagpal
