In line with its aggressive expansion plans for India, JK Tyre & Industries Ltd. has launched a total of 10 new products covering different product segments-Passenger Cars, Truck and Light Commercial Vehicle. The tyres launched include Ultra High Performance car tyre range called as UX1. These tyres are designed for high end luxury cars such as Audi, BMW and Mercedes. JK Tyre has also launched a new range for hatchback car segment called as Ultima NEO. This tyre helps in fuel savings.
In the commercial segment JK Tyre aims to enhance the customer value proposition by offering next generation products which will help in reducing operating costs of the Truck and Bus operators
With these launches JK Tyre plans to increase its turnover by Rs 300 crores.
Delighted about the launch, Mr. A K Bajoria, President & Director, JK Tyre & Industries Ltd said, “The automotive market in India continues to offer promising opportunity for growth to all and with the launch of this new range, we are hopeful of increasing our market share in high-performance tyre segment significantly. The new range also comes as an aggressive move towards our expansion plans for India which has an earmarked capex of Rs 1,430 crores to increase our truck and bus radial capacity by additional 8 lac tyres per annum and car radial capacity by another 20 lac tyres per year at the Chennai. ”
Also speaking at the launch was Mr. Vikram Malhotra, VP, Marketing & Sales, JK Tyre & Industries Ltd who commented, “JK Tyre has consistently focused towards extensive R&D and technological innovation to develop products in response to customers’ needs thereby offering a compelling proposition. Safety, durability, fuel efficiency & handling figure amongst the key decisive factors for Indian drivers while buying tyres. With our new offering we aim to deliver that to the customers and we will continue to strive towards developing products that address customer needs.”
Also present Mr. V K Misra, Technical Director, JK Tyre & Industries Ltd said, “The discerning customer today wants more for less and it is our endeavor to constantly innovate and develop products that cater to their requirements. For JK Tyre customers are at the core of all R&D and we are committed to designing products that make driving a real experience for them.”
In addition to focusing majorly on India, JK Tyre is also considering organic and inorganic growth in the emerging markets of South-East Asia. The company currently has 9 plants across India and Mexico with an annual capacity of around 20 million tyres. JK Tyre is committed to growing its footprint across newer geographic regions across the globe.