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|14th January 2013, 20:33||#1|
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Apollo Tyres sets up Global R&D Centre in the Netherlands, Europe
Apollo Tyres announces the opening of its Global R&D Centre (for passenger vehicle tyres) in Enschede, Netherlands.
It's the first Indian tyre company to set up a global R&D in Europe. Apollo plans to ramp up R&D spend to 3% of sales and aspires to become a $6 billion / top 10 global tyre company by 2016.
This R&D facility will serve as a hub for the development and testing of car & van tyres for all product brands - Apollo, Vredestein and Dunlop. It will start operations with more than 100 R&D specialists from various parts of the world, including 20 car tyre specialists from India and South Africa.
Apollo Tyres will have two global R&D hubs; Enschede, the Netherlands for Car and Van tyres and Chennai, India for Commercial Vehicle tyres.
The 2 locations were chosen based on current and potential markets. The Middle East and Asia form nearly 59 percent of the global market for commercial vehicle tyres, while Europe and North America represent 51 percent of the car tyre market. Both R&D departments will be in close contact with OEMs and replacement clients, test centres, raw material suppliers and research institutes.
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