Apollo Tyres gears up for EV segment, announces two new brands
Apollo Tyres on Monday (August 1) announced the roll-out of two tyre brands that will cater to electric passenger vehicles like cars and two-wheelers in the Indian market.
The company expects the EV market to flourish in India and is gearing up cater to demand both in passenger vehicle and two-wheeler segments.
“The consensual view is that the electric two-wheeler segment will grow the fastest and in that too scooters will be the first followed by motorcycles. Besides, the bus segment will also grow and four-wheeler will probably reach about 15-20 per cent (of the overall passenger vehicle sales) by 2030,” Apollo Tyres president (Asia Pacific Middle East and Africa) Satish Sharma told PTI.
While the new brand Apollo Amperion will cater to the electric passenger vehicle segment, Apollo WAC range of tyres are meant for electric scooters. While the company is yet to reveal the price range of both the tyre brands, it has said that they will be at least 5 per cent more expensive than the tyres used in Internal Combustion engine vehicles.
“We are already in discussion with multiple OEMs in India to supply these tyres for electric vehicles, and will be targeting a lion’s share in the EV space in India, in both PV and two-wheeler segments,” he told a leading business website.
Electric two-wheeler sales could account for 30-35 per cent of overall sales by 2030, he suggested.
“There is every reason to believe that there will be rapid expansion of electric vehicles and therefore tyres for such models,” Sharma told PTI.
Sharma said the company is also looking to cater to electric models in the European market through its Vredestein brand. “It will be first launched in Europe and then we will bring it to India if required because the real action at the premium end will come from premium players.”
Global premium players like 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 the likes of other premium tyre suppliers for such electric cars,” Sharma said.
Apollo Amperion will cater to the EVs in hatchback, compact SUV and sedan segments in India, like Tata Nexon, MG ZSE, Hyundai Kona and other upcoming EVs. Apollo WAV, on the other hand, will cater to the majority of high-powered electric scooters available in the country, like TVS iQube, Bajaj Chetak and Ather 450.
The company plans to develop EV tyres for motorcycles in the next phase, considering the extremely low numbers in this category currently.
“Our teams have invested years of research to understand the changing dynamics and requirements of vehicles in EV space to perfect the product that we are launching today,” Sharma said.
The tyre major is already in discussions with multiple OEMs in India to supply these tyres for the electric vehicles, and will be targeting a lion’s share in the EV space in India, in both PV and two-wheeler segments, he added.
EV tyres use the latest generation polymers, traction resin and other raw materials to handle the instant acceleration of the EVs, the company said.
(With inputs from agencies)