Following the positive initial response to the new product, TVS Eurogrip plans to further expand its product portfolio in both domestic and global markets.

Mumbai: TVS Srichakra Ltd (part of the $85 TVS $100 million group), a leading tire manufacturer headquartered in South India, on Tuesday announced plans to invest Rs. 1,000 crore in expanding the production capacity of its Madurai and Pantna processing plants.

The investment is planned to increase two-and three-tire capacity by 25-30% in three years, as well as dual tire capacity. The current level of off-highway tire capacity. The investment program is funded by debt and internal accruals.

The investment includes plans to strengthen capacity for premium product lines such as flagship radial tires.

The capital expenditures announced today will also significantly increase TVSS Srichakra production capacity and technological capabilities in the off-highway tire segment, with a focus on global markets.

S Ravichandran, Director General, TVS Srichakra He said that with its extensive distribution network in India, expanding its international presence, building cutting edge capabilities in R&D and product development, TVS is further strengthening its manufacturing capabilities in order to meet the growing demand in India and abroad. overseas.

“We are confident that this capex will help TVSSS Eurogrip to further achieve its growth targets, strengthen partnerships with automakers and establish new benchmarks in alternative and global markets. This gives confidence in India’s recovery and its media. It provides a long term perspective and is our contribution to ‘Atmanirbhar Bharat’, added Ravichandran.

Having previously invested in TVSS Srichakra Ltd in the financial year 2019-20, the company has announced the launch of TVS’ new brand Eurogrip along with a range of new products. The company also announced that it will set up a product design center in Milan, Italy in FY 2019-20. TVS Eurogrip has been working on further expanding its presence in the aftermarket while strengthening its legacy equipment.

Due to the initial response to the new products, TVS Eurogrip plans to further expand its product portfolio in both domestic and global markets.

Established in 1982, the company is one of the flagship companies of the TVS Group, India’s largest automotive support group with assets of $8.5 billion.

Headquartered in Madurai, TVS Srichakra has global R&D capabilities and manufacturing plants in Madurai (Tamil Nadu) and Pantnagar (Uttarakhand), with a capacity of over 30,000 tires per month.

The company has a design center in Milan, Italy and an R&D center in Madurai and its tires are road tested in India, Europe and Japan. The company sells its tires in more than 85 countries around the world.