Continental, the international tyre manufacturer and automotive supplier have turned their attention to India, to supply radial tyres to the truck and bus segment in the country. The company has an initial annual production of 220,000 radial truck tyres while official launch will be held in New Delhi on April 1, 2014.
Continental is ecstatic about their new venture in the Indian market which is the second largest market for truck tyres in the Asia Pacific region. Continental India Limited acquired Modi Tyres in 2011 and have since then been a major player in the commercial vehicle segment, investing in local production capacities and expanding their business in leading markets.
The Indian truck tyre replacement market sees total volume of 14 million units per annum out of which nearly 4 million units are radial tyres and another 10 million are bias tyres. Over the past 5 years, this market has seen growth by 24% with more emphasis being shown to radial tyres which is slated to see even more momentum in the years ahead.
Besides supply of radial tyres, Continental is well versed in the supply of brake systems, systems and components for power trains and chassis, instrumentation, infotainment solutions, vehicle electronics and technical elastomers.