Bridgestone plans to increase production by 10% next year

19 Sep 2022 , 09:34 AM

In response to the jump in demand in both the OEM and aftermarket markets, Japanese tyre manufacturer Bridgestone plans to increase its production capacity by more than 10% next year, according to Parag Satpute, the company’s head of India, who talked to PTI.

Additionally, he mentioned that the business is aiming to introduce its EV tyre technology to the local market, which is anticipated to have a higher penetration of electric vehicles due to the government’s growing drive for sustainable transportation.

In Europe, Japan, and the US, Bridgestone already sells tyres for the EV market.

Bridgestone India has two production facilities, one in Pithampur (Madhya Pradesh) and the other in Pune, with a combined capacity of close to 30,000 tyres per day, serving just the needs of the domestic market.

He claimed that the business has had “substantial” growth, with volume increasing by 50% compared to 2019 and market share increasing by 4% to 20% during the previous two years in the aftermarket domestic passenger car segment.

Bridgestone India, a fully-owned subsidiary of Bridgestone Corporation with a 20% market share in the Indian aftermarket passenger car tyre market, serves both the passenger and commercial tyre segments.

He said that Bridgestone India had spent Rs2,000 crore on technology, extending manufacturing capacity across the two factories, and now plans to introduce tyres for the rapidly rising electric car markets.

Every other year, the business has been able to introduce new products, and he predicted that this will continue in the future as well.

Because the demand for an EV tyre is quite different from the demand for the typical IC engine-powered car tyres, “we will look at new goods and technology for the EV category. Unlike a car with a gasoline engine, an electric vehicle makes no noise. Bridgestone already has the new technology needed for it, he continued.

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