Tyre manufacturer CEAT has announced plans to strengthen its presence and growth in the truck and bus radial (TBR) segment, both domestically and internationally, targeting a higher market share. This expansion is enabled by by a capacity ramp-up at its plant near Chennai.

This plant, which has been producing passenger car radial (PCR) and motorcycle radial (MCR/MCS) tyres, has added a new production line for TBR tyres, built at an investment of Rs 670 crore.

The new TBR line will reach a production capacity of 1,500 tyres per day by the end of the financial year, aiding in creation of 500 work opportunities both directly and indirectly.

The company will focus on key regions and expand partnerships with original equipment manufacturers (OEMs), including Daimler, Ashok Leyland, and will target key markets.

In the second phase of its TBR expansion, CEAT may double its capacity to 3,000 tyres per day with an additional investment of Rs 540 crore. The company also has a strong presence in the domestic two-wheeler and passenger car tyre segments.

Of its Rs 1,000-crore capex this year, CEAT has allocated Rs 750 crore towards expanding TBR and PCR capacities in Chennai, as well as scaling up its agriculture radial project in Ambernath.