Apollo Tyres is planning to invest the huge amount in the Greenfield project. The company will invest 475 million euro in the Hungary-based firm. Their new unit can produce 5.5 million passenger cars and light truck tyres.
Not only this, but the company can also produce 675,000 commercial vehicles' tyres in just one phase. As per the reports, the company to sell two variants of tyres- Apollo and Verdestien in the market of Europe and Netherland.
Onkar S Kanwar, chairman of Apollo said, "The facility will help us further increase our presence and market share in Europe. From being a replacement market focussed company in Europe, we would soon be starting supplies of our tires to all leading original equipment manufacturers in Europe."
Also Read:
ICRA says upgradation of vehicles is the only way to prevent loss
