Tyre maker Bridgestone India will commission its new Greenfield plant at Chakan in Maharashtra by early next year. This will help the company increase the market share in the country.
A subsidiary of Japanese tyre-manufacturing major, Bridgestone is investing Rs 2,600 crore in the new facility for radial tyres for use in passenger cars, trucks and buses.
The company had acquired land from the Maharashtra Industries development authority near Pune. “This will compliment the company's existing manufacturing base located at Kheda in Madhya Pradesh,” Mr Manoj Sinha, DGM (East), Bridgestone India, said.
The company had decided to locate the unit near the Pune automotive hub to directly serve them from the new manufacturing base.
Speaking to Business Line after the launch of their 259 Bridgestone Select Stores in the country in Andhra Pradesh, Mr Sinha said the demand for tyres has gone up gradually as the automotive industry is witness to growth over the past few years.
“Whatever we make is absorbed immediately in the market. We are feeling the pressure of supplies and in meeting the growing market demand. Therefore, this plant will play a big role in the tyre industry in the country,” he said.
The demand from both the original equipment manufactures and the replacement market has gone up. In a short time, Bridgestone has garnered a share of over 27 per cent.