Continental India Limited is taking the next step in expanding its reach in India after acquiring Indian tyre manufacturer, Modi Tyres in 2011. The official launch event for this will be held on April 1, 2014, in the National Capital Region.
March 23, 2014 (Newswire) - Continental India Limited is taking the next step in expanding its reach in India after acquiring Indian tyre manufacturer, Modi Tyres in 2011. The international tyre manufacturer and automotive supplier Continental has started production and distribution of Truck Bus Radial tyres in the Indian market. The official launch event for this will be held on April 1, 2014, in the National Capital Region.
The Indian truck tyre replacement market has a volume of approximately 14 million units per year, out of which almost 4 million units are radial tyres, whereas the other 10 million are bias tyres. Over the last five years, the market has not only grown by approximately 24%, but has also seen a strong shift towards radial tyres. It is expected that radialization will gain further momentum in the next years.
With provisional sales of around €33.3 billion in 2013, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for power trains and chassis, instrumentation, infotainment solutions, vehicle electronics, tyres, and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has more than 178,000 employees in 49 countries.
As one of the world's leading tyre manufacturers, with more than 42,000 employees, the Tyre division achieved sales of €9.7 billion in 2012. Today, the division has 22 production and development locations worldwide. The broad product range and continuous investments in R&D make a major contribution to cost-effective and ecologically efficient mobility.