Ceat to increase tyre capacity

Ceat, the Indian tyre manufacturer, has announced plans to increase production of truck and bus, passenger car and two-wheeler tyres. According to local news sources, the company said it will invest approximately 2,800 crore rupees over a five-year period leading up to 2022.

As a result, the investment is set to increase Ceat’s annual domestic capacity by 1 million truck tyres; its two wheel capacity by 17 million tyres per year; and its passenger car radial capacity by 6 million tyres a year.

Ceat managing director Anant Goenka is quoted as saying: “In order to boost the growth in our focused segments of two-wheelers and passenger car radials, we are expanding capacities over the next five years. With the growth in radialization of truck segment, we have decided to increase our truck and bus radial capacity by 1 million tyres per annum to maintain our market share.”