Michelin Increases Stake In Apollo Tyres

Michelin is to raise its stake in Apollo Tyres from 14.9 per cent to 26 per cent over the next 15 months. The investment will happen when Apollo expands its passenger car radial manufacturing capacity.

The two companies in the joint venture have also finalised their branding policy – while truck and bus tyres will carry both brand names, individual brands will be used for passenger car tyres. Michelin car radials will be positioned at a premium over Apollo-branded tyres to avoid any cannibalisation..