Apollo Tyres News: Apollo Tyres gears up to meet demand from promising EV segment

New Delhi: Apollo Tires expects electric vehicle adoption to increase in the coming years and is gearing up to meet demand in both the passenger and two-wheeler segments. The company, which launched two tire brands for electric passenger cars and two-wheelers on Monday, is optimistic about the opportunities in the domestic and international markets.

“The consensus is that the electric two-wheeler segment will grow the fastest and scooters will be the first, followed by motorcycles.

“In addition, the bus segment will also grow and four-wheelers are likely to reach 15-20 percent (of total passenger car sales) by 2030,”

President (Asia-Pacific, Middle East and Africa) Satish Sharma told PTI in an interaction.

Electric two-wheeler sales could account for 30 to 35 percent of total sales by 2030, he suggested.

“There is every reason to believe that there will be a rapid expansion of electric vehicles and thus tires for such models,” Sharma said.

The company has launched two brands: Amperion and Wav for electric passenger cars and two-wheelers respectively.

“We will expand the lineup as we progress,” said Sharma.

He noted that the company is also looking for electric models in the European market through the Vredestein brand.

“It will be launched in Europe first and then we will bring it to India if necessary as the real action will come at the premium end of premium players,” said Sharma.

Global premium players such as Mercedes Benz, Audi and Volvo are all looking at introducing at least one or two electric models, he added.

“So we will be competing with other suppliers of premium tires for such electric cars,” Sharma said.

Apollo Amperion will target the EVs in hatchback, compact SUV and sedan segments in India, such as Tata Nexon, MG ZSE, Hyundai Kona and other emerging EVs.

Apollo WAV, on the other hand, will fit most powerful electric scooters available in the country, such as:

iQube, Bajaj Chetak and Ather 450.

The company plans to develop EV tires for motorcycles in the next phase, given the extremely low numbers in this category at the moment.

“Our teams have spent years researching the changing dynamics and requirements of vehicles in the EV space to perfect the product we are launching today,” said Sharma.

The tire major is already in talks with multiple OEMs in India to provide these tires for the electric vehicles, and will target a lion’s share of the EV space in India, in both PV and two-wheeler segments, he added.

EV tires use the latest generation of polymers, traction resin and other raw materials to handle the instant acceleration of the EVs, the company said.

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