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Business Standard
a day ago
- Automotive
- Business Standard
Continental to infuse Rs 100 cr in India to boost passenger vehicle biz
Hanover-based tyre manufacturer Continental has announced plans to invest approximately Rs 100 crore in India to enhance production capacity and broaden its product portfolio for passenger vehicles and light trucks. According to a company statement, the investment will support the development of tyres tailored specifically to Indian driving conditions, with a strong emphasis on performance and quality standards. 'With our 'in the market, for the market' approach, we're aligning our portfolio to reflect the evolving lifestyle needs of Indian drivers—from daily commutes and long-distance travel to changing expectations around comfort, safety, and convenience,' said Samir Gupta, Managing Director, Continental Tires India. Manufacturing upgrades and product expansion The company anticipates growing demand for larger-inch and ultra high performance tyres across SUVs, 4x4s, and similar vehicle categories. In line with this, Continental also plans to introduce the CrossContact AT2 all-terrain tyre in India later this year. Currently, Continental manufactures passenger and light truck tyres at its Modipuram facility in Meerut, Uttar Pradesh. Strategic shift to premium PLT segment Earlier this month, Continental announced a strategic shift in its product focus in India. The company will now concentrate exclusively on the Passenger Car and Light Truck tyre (PLT) segment for future growth. As part of this transition, Continental will exit the Truck and Bus Radial tyre (TBR) segment. This includes ceasing operations of the dedicated TBR production line at the Modipuram facility. 'The realignment is aimed at ensuring the long-term viability of Continental Tires' operations in India. In response to changing local customer demand, Continental will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment,' the company said in an earlier statement.
Time of India
02-06-2025
- Automotive
- Time of India
Continental puts brakes on truck-bus radial tyre biz in India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Tyre maker Continental on Monday said it will discontinue its truck and bus radial tyre business in India with immediate effect, as part of a strategic realignment of its product portfolio in the company will fully focus on the profitable growth of its passenger car and light tuck (PLT) tyre business in the future, it said in a part of this strategic transition, the company will discontinue its Truck and Bus Radial (TBR) tyre business, it includes its dedicated TBR manufacturing line at its Modipuram tyre plant in Meerut, Uttar Pradesh."The company's priority is to support its employees by providing assistance and support, such as career counselling, as well as exploring potential employment opportunities inside and outside of Continental. In addition, a voluntary retirement and separation scheme will be offered," the company company, however, did not share the number of employees being impacted by this company stated the realignment is aimed at ensuring the long-term viability of Continental Tires' operations in the country."In response to changing local customer demand, Continental will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment," it decision follows a comprehensive business review aimed at safeguarding and strengthening the company's competitiveness in the Asia-Pacific region, it intense competition and high price sensitivity in the TBR segment, sustaining long-term value from Continental's premium offerings has been a significant challenge, it noted."Hence, Continental's Truck and Bus Radial tyre business manufacturing operations in India will be discontinued as of June 2025," it company noted that India remains a strategically important market for its tyre 2024, the Hanover-headquartered Continental generated sales of 39.7 billion euro and currently employs around 1,90,000 people in 55 countries and tyre division employs more than 57,000 people worldwide and has 20 production and 16 development sites.
