Tyremaker JK Tyre & Industries will introduce advanced smart tyres in FY25. The smart tyres will be available for passenger cars and commercial vehicles.
The tyres will be equipped with embedded sensors on the inner side which will help in determining the health of the tyres. The tyres will be upgraded with the latest technology and sensing capabilities that can determine tyre punctures swiftly. “The smart tyres will be upgraded with the latest technology. We have a sizable share in the smart tyres market but with embedded sensors, we will be able to penetrate further in the passenger and commercial vehicle markets. The smart tyres can update the health of the tyres through a mobile application,” said Anuj Kathuria, President, of JK Tyre & Industries to businessline.
The company stated that a smart tyre, introduced in 2019, costs ₹3 more than a regular tyre. Smart tyres are built with sensors that provide consumers with real-time alerts of the tyre temperature and pressure during travel. The tyres also provide real-time information about their condition through the installed sensors.
Capacity ramp-up
Further, JK Tyres announced an investment of ₹1,400 crore in a phased manner over the next two years. The investment will be used for capacity expansion for passenger car radial tyres.
“We have nearly completed the expansion of our Banmore plant in Madhya Pradesh which has given us a 16 per cent capacity increase for passenger cars. We will further enhance our capacity and capabilities and are working on premiumisation with higher rim sizes in passenger cars. With the expansion we will be able to produce tyres up to 24 inches of rim sizes,” added Anuj Kathuria.
The company posted a 54 per cent increase in its consolidated net profit with ₹171.66 crore in the quarter that ended in March.