Expanding its research and development (R&D) centre in Italy, refurbishing the tyre test track in Madurai, launching a new tyre under a new brand and targeting exports are some of the plans that TVS Srichakra Ltd is implementing to get a stronger grip in the market, said senior company officials.
Part of the Rs 65,000 crore TVS group, the company on Tuesday launched 19 new products under the new brand TVS Eurogrip and officials said over a period time it will be the sole brand for the company with the existing brand TVS Tyres getting phased out.
"We set up the R&D centre in Milan early this year. The centre has six senior officials. The head count there will be increased," V. Sivaramakrishnan, Chief Technology Officer told reporters here.
He said the R&D centre in Milan will enable the company to know the international trend in tyre technologies.
Sivaramakrishnan also said the company will be refurbishing its tyre test track in Madurai so that the turnaround time for the test results is reduced and further course of action could be taken fast.
According to Sivaramakrishnan, the company is in the process of filing patents for technologies developed by it.
On the tyres for electric vehicles he said those tyres will have to be energy efficient as there will be a lot of torque on the wheels.
Speaking about the launch of a new tyre brand, P. Madhavan, Executive Vice President-Sales and Marketing said the brand name TVS Eurogrip was decided so as to give an international flavour and it was the preferred choice of the people surveyed.
He also said for some time the company will have two brands - TVS Tyres and TVS Eurogrip - and over a period of time the former will be taken out as the new product under the new brand will replace the older ones.
According to P. Srinivasavaradhan, President, the company will be targeting the vehicle makers as well as the replacement market for the new brand.
He said the new-age rider is looking for design, superior quality and better performance.
TVS Srichakra rolls out about 2.8 million tyres per year and the two-wheeler market is expected to log growth as the youth population is huge in the country, P. Vijayaraghavan, Director said.
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