TVS Eurogrip is a well-known name in the motorcycle and scooter tyre market, but this brand recognition doesn’t carry over into Europe’s agricultural segment. Not yet, at any rate. But brand manufacturer TVS Srichakra has its sights set on growth and is expanding its off-highway tyre plant. The company is now contemplating further investment.
TVS Srichakra Ltd. intends to expand its commercial activities in the USA and will drive growth in this market by acquiring the business of Super Grip Corporation. A legal entity for this purpose, SG Acquisition Corporation, was registered in the state of Michigan on 5 September 2023, and the Indian tyre maker’s Board of Directors authorised an overseas direct investment of US$10 million on 20 October 2023.
TVS Eurogrip, the brand that claims market leadership within India’s two- and three-wheeler tyre segment, has become principal sponsor of the Chennai Super Kings cricket team for the 2022 to 2024 seasons.
Indian tyre maker TVS Srichakra Ltd. is targeting millennial customers with a newly-introduced tyre brand, TVS Eurogrip. Products sold under the TVS Eurogrip name will benefit from a design and innovation centre the company is setting up in Milan as well as European and Japanese experts for technology, product and process development.
TVS Srichakra reports that it is planning to increase total tyre production capacity from 2.3 million tyres per month to 2.5 million. The Madurai, India-based firm told local news sources that it do so by the second quarter of the current financial year.
TVS Srichakra Limited is set to launch a radial motorcycle tyre range in April. Speaking to the local The Hindu newspaper, company director P. Vijayaraghavan said the new range would “initially cater to the needs of the expanding high-end motorcycles market”.
TVS Srichakra, part of the Chennai-based US$8 billion TVS Group, recently launched tractor rear radial tyres in Europe.
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