By Denna Bowman
Apollo is in talks to supply tyres to German car manufacturer Volkswagen in Europe as it drives forward with its ambitious plans to ramp up global sales.
Neeraj Kanwar, managing director of Apollo, said: “Recently we have gone into VW, supplying tyres for the cars they are launching in India and we are in discussion to supply tyres to them in Europe.”
The company is also looking at leveraging from Dutch firm Vredestein, which it acquired last year, for supplying tyres to Volkswagen. Vredestein is already supplying to VW.
Marc Luyten, chief marketing officer for Apollo Vredestein, said: “Now we will talk about two brands to VW.”
The move is part of its strategy to enhance its global footprint as aims to achieve a turnover of $5 billion and propel itself into the top 10 tyre manufacturers in the world within the next five years.
Onkar S Kanwar, chairman of Apollo, said: “We are targeting to reach USD 5-billion-mark turnover in the next five years as we expand globally and ramp our capacities.”
The news comes on the back of last weeks move into supplying the after-sales market in Europe when the company launched its main brand Apollo.
Mr Kanwar added: “Our current range, catering to the small and mid-size segment, will meet the growing demand in Europe.”
He said the company would be supplying tyres to the European markets from its Baroda plant. Also, some of the tyres meant for the domestic market would be produced at its Vredestein facility in the Netherlands.