Maxxis Tyres opens its first manufacturing plant in India at Sanand1 min read . Updated: 08 Mar 2018, 11:25 PM IST
The Maxxis Rubber India's facility at Sanand involves a total investment of Rs2,640 crore, so far close to Rs1,800 crore has been invested
Sanand: Maxxis Rubber India, a subsidiary of Maxxis Group, inaugurated its first plant in India on Thursday at Sanand in Gujarat. Involving a total investment of Rs2,640 crore, the company has so far invested close to Rs1,800 crore on the unit and plans to invest the rest over the next three years, company executives said.
The facility, spread over 106 acres, is currently dedicated to the manufacturing of two-wheeler tyres and tubes, with a capacity to produce around 20,000 tyres and 40,000 tubes a day.
“We aim to enhance the capacity to 60,000 tyres and 40,000 tubes per day for two-wheelers. We also plan to produce 12,000 tyres for four-wheelers," said Cheng-Yao Liao, president, Maxxis India.
With this size and capacity, the company is targeting a market share of at least 15% within 5 years.
The facility was inaugurated by Gujarat chief minister Vijay Rupani in the presence of Tsai-Jen Lo, chairman, Maxxis Group.