Reports: Modi Tyres Partnering Continental
Indian tyre manufacturer Modi Tyres has “re-forged” the Modi Continental technical and brand partnership it made with Continental AG in 2001. According to local news sources, the tyres manufactured under the agreement will now be marketed under the Continental brand only, rather than Modi Continental. The new partnership will reportedly be called Modi Tyre Company (MTC) and is described as “only technical in nature and does not involve any investment from the German tyre company.” According to the reports Modi Tyres is aiming to roll out 1.1 million truck tyres and tubes annually and expects to expand its network of dealers from 500 to 2,000. Continental already has a technical agreement with JK Tyres and the reports speculate that this deal may now end.