Apollo Tyres is preparing to satisfy demand from the growing EV market

2 Aug 2022 , 12:37 PM

The adoption of electric vehicles is anticipated to accelerate over the coming years, and Apollo Tyres is preparing to meet demand in both the passenger vehicle and two-wheeler segments. The company, which on Monday unveiled two tyre brands for two-wheelers and electric passenger vehicles, is optimistic about its potential in both home and foreign markets.

According to general consensus, the electric two-wheeler market will expand the fastest, and in that market, scooters will lead the way, followed by motorcycles.

In addition, the bus market will expand, and by 2030, sales of four-wheelers will probably account for 15—20% of all passenger vehicle sales, according to Apollo Tyres President (Asia Pacific Middle East and Africa) Satish Sharma.

He predicted that by 2030, sales of electric two-wheelers might represent between 30 and 35% of total sales. There is every reason to think that the market for electric vehicles and the corresponding tyres will grow quickly, according to Sharma.

The company has introduced two brands, erion and Wav, for two-wheelers and electric passenger vehicles, respectively. As we go forward, we will be growing the lineup, Sharma added.

He mentioned that the business is attempting to use its Vredestein brand to serve electrified versions in the European market.

The real activity at the premium end will come from premium players, thus it will initially be offered in Europe. If necessary, we would subsequently bring it to India, Sharma added. He stated that major luxury manufacturers including Mercedes Benz, Audi, and Volvo are all considering releasing at least one or two electrified vehicles.

In India, Apollo erion will serve EVs such the Tata Nexon, MG ZSE, Hyundai Kona, and other forthcoming EVs in the hatchback, compact SUV, and sedan categories.

Contrarily, Apollo WAV will serve the majority of the nation's high-powered electric scooters, including the TVS iQube, Bajaj Chetak, and Ather 450. Given the incredibly low numbers in this area today, the company wants to manufacture EV motorcycle tyres in the next phase.

The tyre company is already in talks with a number of Indian OEMs about providing these tyres for electric vehicles, and will be going after the majority of the market in India for EVs in both the PV and two-wheeler categories, he added.

According to the manufacturer, EV tyres use the newest generation of polymers, traction resin, and other raw ingredients to handle the EVs' instantaneous acceleration.