JK Tyre to enter two wheeler market
- by Team Zigwheels
- Aug 6, 2015
- | Views: 2934
Apart from expanding its business in the car and truck market, JK Tyre is also planning to foray into the two-wheeler tyre business
JK Tyre had a pretty strong start to the FY 2015 as they recorded a net profit of Rs 118 crore (113 percent) for the quarter ended June. And that despite having its presence in just the car and truck market. With the number of motorcycles sold, not just in India but world over, JK Tyre has been absent from a huge market. But not anymore.
An official recently said that the company is looking to expand into two-wheeler tyre business and are as of now in the process of testing the waters. In fact, JK Tyre is also considering an entry into three-wheeler tyres. The Delhi-based tyre maker said their plans of this expansion will only get firmed up in two-three months time.
JK Tyre declined to share information whether this development is for the Indian market or for a two-wheeler manufacturer abroad. In fact. They were even silent about the facility from where the tyres would be manufactured.
However, JK Tyre had Rs 1430 crore allotted to expand its plant in Chennai from which nearly Rs 500 crore have been spent. The remaining amount will be invested by the end of the year. As part of its expansion plan the company will also increase production capacity for it truck and car radial tyres.