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Time of India
a day ago
- Automotive
- Time of India
Tyre maker Continental to invest ₹100 crore in India to expand passenger vehicle business
Tyre maker Continental said it is planning to invest about Rs 100 crore in India to enhance production capabilities and product range for its passenger vehicle and light truck business. The expansion underscores Continental's focus on producing tyres that are specially engineered for Indian consumer demands, with a strong emphasis on product performance and premium quality standards, the Hanover-headquartered firm said in a statement. The company plans to invest around Rs 100 crore (10.5 million euros) to enhance manufacturing capabilities in India and to expand its passenger car and light truck tyre portfolio, it stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This Common Thing. vitalgethealth Click Here Undo The company, however, did not share any timelines for the completion of the investment. "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," Continental Tires India MD Samir Gupta said. Live Events The company expects strong growth potential in larger-inch and ultra high performance tyres designed for SUVs, 4x4s, and sporty vehicles, aligning seamlessly with current market trends. Continental will also expand its all-terrain product portfolio with the introduction of the CrossContact AT2 this year, it added. The company has manufacturing operations for passenger and light truck tyres at Modipuram in Uttar Pradesh 's Meerut. Earlier this month, Continental announced that it will discontinue its truck and bus radial tyre business in India.
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.
