India's largest tyre manufacturer, Apollo Tyres Ltd announced its entry into the Sri Lankan market yesterday. The company has teamed up with Ideal Motors, the automobile distribution and marketing arm of the Ideal Group of Companies in Sri Lanka.
The group is one of Sri Lanka's fastest growing automobile majors and is focused on assembly and distribution of automotive spares and accessories through multiple outlets across the country. Ideal has launched a new company, Ideal Wheels & Tyres, for the distribution and retailing of Apollo tyres.
Commenting on the entry of Apollo into Sri Lanka, Satish Sharma, chief, India operations of the company said, the company had the Indian experience on the kind of tyres, services and training required to allow vehicle owners to maximise on performance.
He added Sri Lanka was currently primarily a cross ply market in the commercial segment.
He added the company would work with its partners as they gradually made a shift to radial tyres. He added that Ideal Motors, with its proven experience in the automobile and automotive parts business, would be the perfect partner for it to do this together.
Initially, Apollo Tyres would focus on passenger vehicle and cross-ply truck and light truck tyres, which would be gradually expanded over time to include Apollo's entire range currently sold in India, including truck, bus radial, agriculture and off-highway tyres.