India’s Apollo Tyres Ltd. and Beijing Automotive Industry Group Co. are seeking to reach an agreement to set up a joint venture in China, according to media sources in India.
If an agreement is reached, it would give Apollo entry into China after its deal with Cooper failed.
Beijing Auto Chairman Xu Heyi said that the proposed venture, which will be built in the Northern province of China, will have an annual production capacity of about 1 million tires.
No other information about the joint venture or the timeline has been released.