Michelin is waiting for use of radial tyres in India to pick up before “it starts working on the manufacturing front,” Mr. Herve Dub, CEO of Michelin India, told media the other day. The penetration of radial truck and bus tyres in the Indian market is less than 1% currently, which makes it unviable to set up manufacturing facilities in the country.
Though Michelin Apollo Tyres has bought land near Pune in Maharashtra state, “we’ve realigned our partnership with Apollo in this regard so that both of us can tap the immediate growth opportunities in the market,” he said.
“Michelin’s strategy will be to grow its truck and bus tyres business significantly, along with focusing on the passenger car segment,” Mr. Dub said.
