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New Delhi: Apollo Tyres on Wednesday said it is aiming to take a leading position in the domestic premium two-wheeler segment, which comprises mainly high-end bicycles. It is also set to offer high-end bias and steel radial tires for the international market, the company said.

The premium segment accounts for nearly 20% of the two-wheeler market in India and is the fastest growing segment.

“Our aim is to establish a strong foothold in the high-value, high-margin premium motorcycle tire market to cater to the top 20% of the motorcycle market in India, Europe and the US. We will also be able to provide a strong presence in the motorcycle tire market,” said Kanwar, Vice Chairman and Managing Director, Apollo Tyres, in a statement.

He added that the company now has a global portfolio of premium bias and radial tires for the two-wheeler segment, which will be produced at its manufacturing facility in Baroda, Gujarat.

Apollo Tyres on Wednesday formally opened its commercial plant specializing in the production of radial and bias tires for two-wheelers.

The manufacturing plant is spread over an area of more than 10,000,000 Limda and the company is located at its Baroda plant.

Apollo Tyres said the initial capacity of the plant will produce 30,000 monthly noon line tires and 60,000 motorcycle Motorcycle bias tires to meet the high-end market demand in the two-wheeler industry.

The modular layout of the facility allows capacity to be easily replicated as demand increases, he added. The tire manufacturer pointed out that the premium market is growing due to rapid urbanization, rising income levels of consumers and increase in youth, which is also boosting the demand for such tires.

Apollo Tyres entered the two-wheeler tire business in 2016.

The tire maker was the first tire maker in China to launch zero steel radial tires (a global standard for motorcycle tires) and says it currently holds a double-digit market share in the segment.