FCC

Apollo gears up for EVs with launch of two new tyre brands

2022-08-03

Apollo Tyres expects the adoption of electric vehicles to pick up over the next few years, and is gearing up to cater to demand both in the passenger vehicle and two-wheeler segments.

The company this week introduced two tyre brands for electric passenger vehicles and two-wheelers, and is bullish on opportunities across domestic and international markets.

"The consensual view is that the electric two-wheeler segment will grow the fastest, and in that, scooters will be the first, followed by motorcycles. Besides, the bus segment will also grow and four-wheeler will probably reach about 15-20 per cent (of the overall passenger vehicle sales) by 2030," Apollo Tyres President (Asia Pacific, Middle East and Africa) Satish Sharma told PTI.

Electric two-wheeler sales could account for 30-35 per cent of overall sales by 2030, he said. "There is every reason to believe that there will be rapid expansion of electric vehicles and therefore tyres for such models," Sharma said.

The company has launched two brands, Amperion and Wav, for electric passenger vehicles and two-wheelers respectively. "We will be expanding the line-up as we move ahead," Sharma said, adding that the company is also looking to cater to the European market through its Vredestein brand.