Maxxis Rubber India, a wholly owned subsidiary of Taiwan-based Cheng Shin Rubber Industry Company Ltd., announced that it has bagged an order to supply front and rear tyre sets to India’s largest two-wheeler manufacturer Hero MotoCorp for its scooter models.
The company, which claims to be the second largest two-wheeler tyre manufacturer globally, will supply 90/100-10 M6000 53J front and rear tyres, wherein, it says, the M6000 range is specifically designed for the scooters to provide safe grip. The first consignment has already been rolled out of the manufacturing facility in Sanand, Gujarat, the company said in a statement.
The company is already a supplier to the domestic market’s second largest two-wheeler manufacturer, Honda Motorcycle & Scooter India (HMSI). It has been supplying tyres to Honda for its largest selling scooter – Activa since 2016.
Commenting on the new order, Chun-Hsuan Liu, plant head, Maxxis Rubber India, said, “This association will be pivotal to our overall growth and help us achieve our target to triple our production volume in FY19."
Maxxis has earmarked total investment of ₹2,640 crore for India operations. Of that, it has already invested close to ₹1,800 crore in setting up a production plant in Sanand and the remaining amount will be invested in next 3 years. Dedicated to the production of two-wheeler tyres and tubes, the Gujarat plant, which was inaugurated in May last year, has a capacity to produce 20,000 tyres and 40,000 tubes a day.
The company said it has plans to aggressively ramp up its market share to 15% of India’s total two-wheeler tyre market by 2023. It also said that India will play a vital role in powering Maxxis Group’s global plan to become one of the top 5 tyre manufacturers by 2026.
Apart from serving the domestic market, Maxxis’ product portfolio from the Gujarat facility will be exported to South Asia, and will further expand to Africa and Middle East countries in the coming years, the company said in its official statement. It also has plans to set up 5 more production plants in India which will cater to the four-wheeler tyre market. Besides, Hero and Honda, it currently supplies tyre sets to Maruti Suzuki, Mahindra & Mahindra (M&M), Tata Motors and Jeep India among others.