Almost a year after presenting its first dedicated Long-Haul Trailer (LHT) tyre, Apollo Tyres has commenced deliveries of the Apollo EnduMile LHT. The tyre maker says EnduMile LHT provides “impressive levels of performance across the board,” including an A-rating for rolling resistance – a first for an Apollo Tyres truck tyre.
Apollo Tyres Ltd has inaugurated its second Vredestein-branded retail outlet in India at Arihant Tyres, outside DB City Mall in Bhopal, central India, which is also a hub for other premium tyre brands. The outlet was inaugurated by Rajesh Dahiya, vice president, Sales and Service, Apollo Tyres Ltd along with Ashok Jain Pitalia, Proprietor, Arihant Tyres, in the presence of car and bike enthusiasts from the region.
Production at the Apollo Tyres Ltd. OTR tyre factory in Limda, India has “fully resumed” after being stopped by industrial action, the tyre maker reported on 24 September. Apollo Tyres had announced on 20 September that tyre making at the Limda plant in had stopped due to “certain concerns amongst shop floor employees” relating to the renewal of a long-term settlement agreement.
Apollo Tyres’ 2022 launch of the Vredestein Quatrac Pro EV represented a first for the manufacturer as it brought to market Europe’s first dedicated all-season electric vehicle tyre. It has since added additional sizes to boost EV segment coverage. The tyre features a range of advanced design features and high-quality materials, delivering impressive levels of grip and traction in all conditions, while also promoting range via low rolling resistance and lighter construction. It is also designed for a quiet and comfortable ride. Apollo leveraged Vredestein’s experience in supplying all-season tyres dating back to the early 1990s, with the Quatrac Pro EV spearheading its move into specialised products for the emerging EV tyre segment, while also diversifying further its portfolio for the fast-growing European all-season tyre segment. “We are proud to pioneer this segment and will continue to lead the market with innovative products that cater for the next generation of vehicles,” Benoit Rivallant, president and CEO at Apollo Tyres Europe, told Tyres & Accessories.
The Board of Directors at Apollo Tyres Ltd. reports a 124 per cent increase in net profit during the three months to 30 June 2023, the first quarter of the company’s 2023-24 fiscal year. Chairman Onkar Kanwar credits the efforts of Apollo’s European business towards this result.
Success isn’t always about greatness – it’s about consistency. Consistent hard work leads to success. Greatness will come. With these words, Onkar Kanwar opened his company’s 50th Annual General Meeting, singling out consistency as Apollo Tyres Ltd.’s mantra and a quality that in 2022 helped the tyre maker achieve annual revenues in excess of US$3 billion for the first time.
The Apollo EnduRace RT2 truck trailer tyre range is growing with the introduction of a new 385/55 size option for 22.5-inch rims later this month. Apollo Tyres developed the EnduRace RT2 for Europe and manufactures it here too; the tyre maker says the range “delivers superior standards of all-weather performance, rolling resistance, and enhanced mileage and durability.” It adds that the tyre “remains a highly cost-effective solution in an intensely competitive segment” despite premium performance.
It is now almost two years since Apollo Tyres introduced Vredestein tyres into India, with the company using its vast network of business partners to sell the brand. On 23 June it inaugurated the country’s first Vredestein outlet and intends to follow the opening of this branded centre in Bengaluru with further Vredestein outlets in “all the key metropolitan cities in the country with a significant vehicle park of high-end cars and superbikes.”
Apollo Tyres is now sourcing 100 per cent of its natural rubber supplies from companies who have committed to sustainability throughout the supply chain, aligning with the code of conduct set out by the Global Platform for Sustainable Natural Rubber (GPSNR). The new initiative, which came into full effect recently and forms part of Apollo Tyres’ Global Sustainability Strategy, applies to the supply of natural rubber to the company’s two European production facilities in the Netherlands and Hungary.
Favourable fourth quarter and financial year 2022-23 financial results for Apollo Tyres, with revenue growth across all regions amounting to 12% in the fourth quarter and 17% for the full year. The Board of Directors thus recommend a dividend pay-out of Rs 4.00 per equity share and a special dividend of Rs 0.50 per equity share.
At a meeting of business partners in Hungary, Apollo Tyres launched its new Avolve service business model. The company describes Avolve as a “servitisation model” that offers tailored solutions to targeted customers, especially commercial fleet operators. Apollo Tyres is initially rolling out Avolve across India.
Following on from its development of agricultural tyres with 75% sustainable materials, Apollo Tyres has now achieved the same goal with passenger vehicle tyres. These tyres – an Apollo Amperion high-performance tyre for electric vehicles and an Apollo Aspire 4G+ ultra-high performance car tyre – are not commercially available at present.
A key focus of Apollo Tyres’ medium-term strategy in Europe has been original equipment deliveries in the truck and bus sector. The tyre maker has realised this with its first partnership, which sees it supply Apollo EnduTrax tyres for the Iveco Way ranges.
Apollo Tyres wants to build its European market share alongside the development of the commercial vehicle tyre production line at its advanced Hungarian plant. Hosting Tyres & Accessories in the final quarter of 2022, the growing manufacturer detailed its strategic five-year plan to build its presence in Europe’s truck and bus, radial (TBR) tyre market alongside the launch of its EnduMile LHT, a long haul trailer tyre targeting the continent, its first to feature A-grade fuel efficiency on the European tyre label. Apollo is taking measures to double its TBR tyre production output from the Gyöngyöshalász facility, with the target of covering up to 90 per cent of the TBR segment’s total size and specification requirements by 2025.
Apollo Tyres aims for at least 40 per cent of the raw materials it uses by 2030 to be sustainable, and to show what it can already achieve the tyre maker has produced an agricultural tyre containing 75 per cent sustainable materials. Although just a concept, Apollo is evaluating the product’s potential commercialisation.