CEAT, the world’s largest tyre company, aims to invest around Rs 700-800 crore in the next 9-12 months to nearly increase capacity at its Chennai facility, with an eye on global markets such as Europe and the United States.
“Our Chennai plant also caters to global requirements and currently produces around 13,000-14,000 tyres per day. Going forward we will ramp this up to 30,000 tyres per day in the next 9-12 months. We have invested around Rs 1,400-1,500 crore in the Chennai plant so far and the ramp up will mean another Rs 700-800 crore investment,” CEAT MD Anant Goenka said.
“For passenger car tyres, our big future push will be on Europe and the US whereas for the two wheeler market we’re focusing on Indonesia, Brazil and Africa and for commercial vehicles we are entering Europe this quarter and will debut in US in a year,” added Goenka.
