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HeddaDeQuincey
I'm a seasoned industrial engineer with a keen interest in machine learning. Here to share insights on latest industry trends.
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HeddaDeQuincey
Release Time:2024-05-31
Apollo Tyres gears up to meet demand from promising EV segment
The next step in the company’s plan is to develop electric tires for motorcycles, considering that sales are currently low. NEW DELHI: Apollo Tyres expects to accelerate the use of electric vehicles in the coming years and is trying to cater to both the passenger car and the two-wheeler segment. The company on Monday launched two tire brands: electric passenger cars and two-wheelers to explore opportunities in domestic and international markets. “There is a consensus that the electric two-wheeler market will grow the fastest, with scooters leading the way, followed by motorcycles. Moreover, by 2030 the annual sales of four-wheelers are expected to increase and account for about 15-20% of total vehicle sales. By 2030, sales of electric two-wheelers will account for 30-35% of total sales, he said. Sharma said. The company has launched two brands-Amperion and Wav-for electric passenger cars and two-wheelers respectively. We will scale up,” Sharma said. He...
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HeddaDeQuincey
Release Time:2024-05-30
Not keen to re-enter race for Kumho Tire: Apollo Tyres
MUMBAI: Apollo Tyres on Tuesday said it has no intention of selling South Korea’s Kumho Tire Industries to a Chinese buyer as it has not tried to re-enter the acquisition process. “Apollo Tyres strongly denies that competition with Kumho Tyres has resumed,” adding, “We again emphasize that we have no intention of interfering in the Kumho Tyres purchase process.” The Economic Times reported on Monday that Apollo will re-purchase Kumho Tires. Kumho creditors are entering into a formal process to sell the company. We sent an e-mail to a company spokesperson Saturday morning, but as of Sunday, we had not received a response. This fact is mentioned in the story.
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