The sky rocketing growth seen in the Indian auto sector has resulted in some phenomenal growth for the tyre industry as well, which has reported prolific sales during the last year that was touted as the best for industry ever. In another eye-ball catching development it has been reported that late last night at its suburban facility of Oragadam, Apollo tyres has rolled out its one millionth tyre. The tyre was a passenger vehicle-class Apollo Acelere 185/65 R14, according to official from the company. The company, which has started commercial production just 10 months back, has indeed achieved a milestone.
Operations-Chief Satish Sharma, Apollo Tyres India was quoted as saying, that the work done by the Chennai facility in such a short duration is indeed commendable. However he was quick to add, that it was just the beginning of their journey in Chennai and the company was positive of creating new benchmarks and achieving many such milestones.
It was recently reported, Apollo has inked a Memorandum of Understanding with the government of the southern state of Tamil Nadu. This was to revise its already pledged investment from Rs 450 crores to 2,100 crores over the period of 5 years. Employment has been another benefit of this venture, with about 2000 people likely to be benefited either directly or indirectly. The production capacity of the Chennai plant is 1,300 truck-bus radials and 7,000 passenger vehicle tyres per day.