Michelin, TVS Srichakra setting up motorcycle, scooter tyre production unit in India
Indian tyre maker TVS Srichakra Limited informed the National Stock Exchange of India on 2 June that it has entered into an agreement with wholly-owned Michelin subsidiary, Michelin India Private Limited, to produce a range of two wheeler tyres under the Michelin brand name.
“In order to meet the growing demand for its two wheel (motorcycle and scooter) tyres in India, Michelin has entered into an agreement with TVS Srichakra for setting up a new manufacturing facility within its existing plant at Maduri,” shared the Indian manufacturer in a letter to the NSE. “The products designed by Michelin for the Indian market will be manufactured by TVS Srichakra, at this new facility, under the Michelin brand name.”
The unit being set up by TVS Srichakra and Michelin in Maduri will have an annual capacity of 3.6 million tyres. In addition to producing cross-ply two wheeler tyres for Michelin, it will also manufacture “some tyres from TVS’s product range of two wheeler tyres.” Best practices from both companies will be incorporated to “deliver world class products to Indian consumers,” TVS added.