Arora along with other officials at Apollo Tyres’ launch ceremony.
Apollo Tyres, a $2.34bn tyre major, has announced its entry into the growing Qatar market.
The entry was marked by a product introduction to the business partners in Qatar in the presence of Indian ambassador Sanjeev Arora. Al Hitmi Tyre Trading Company, a trading arm of Ali bin Khalifa Al Hitmi & Co, is the sole distributor of the Apollo range of radial tyres in Qatar. This entry is part of its strategy to enter newer markets across geographies, the company said in a statement.
In the passenger vehicle tyre category, Apollo will capitalise on the increasing automobile sales, rising per capita income and implementation of strict rules for quality tyres in Qatar, the statement said. To begin with, Apollo will target 50,000-55,000 passenger car tyres per month market with its 4G range of tyres, which includes Aspire 4G, Alnac 4G and Amazer 4G. The company also plans to introduce its premium European brand, Vredestein, into this market going forward.
The increase in construction activities across the region is also driving growth in the commercial vehicle tyre segment. Qatar will see the introduction of the Apollo Endurance range of truck-bus radials. According to Apollo estimates, the market has a potential of nearly 20,000 truck-bus tyres per month, of which 80% will be radials.
In the next few months, Apollo Tyres plans to tap more such markets in the Mena region, the statement added.
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