Apollo Tyres invests £5 million in London digital innovation hub
Apollo Tyres is investing £5 million in a London-based digital innovation hub as part of a five-year growth plan, which involves significant investment in technology and cloud infrastructure. The announcement is set against the backdrop of UK prime minister Boris Johnson’s visit to India to discuss UK-India economic partnership, with Johnson specifically commenting on Apollo’s investment.
The move is part of Apollo’s digital strategy to implement Industry 4.0, the Innovation Hub will use Artificial Intelligence and Machine Learning technologies to help solve manufacturing problems as well as improve the efficiency, quality and sustainability of the company‘s manufacturing practices.
The hub is partnering with Glasgow University and is also implementing an ongoing internship programme for STEM students (Science, Technology, Engineering and Maths) as part of the UK Government strategy.
Neeraj Kanwar, vice chairman & managing director, Apollo Tyres Ltd, said: “This visit is considered very important for post-Brexit UK- India relations. Our London office is the nerve centre of a $2.5 billion global organisation impacting 20,000 employees worldwide. We have over 130 employees across six business enterprises, ranging from advanced manufacturing, new technologies, artificial intelligence and digital freight in the UK alone. We have invested £5 million in the Digital Innovation Hub and is expected to give a fillip to our digitalisation journey and other investments in cloud and data computing.”
UK Prime Minister Boris Johnson commented: “Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I’m very pleased that Apollo Tyres has decided to join the legions of Indian companies investing in the UK, boosting our technology sector and driving economic growth.”