The Mahansaria Family aims to tap the fast-emerging two-wheeler tyre market in India.
Mumbai, December 5, 2018: Mahansaria Family and Trelleborg AB (publ) have inked a joint venture in India for manufacturing tyres for two-wheeler (2W) vehicles. For Mahansaria Family, this venture is a part of its strategy to enter the fast-growing 2W tyre market in India.
Currently, Trelleborg is focused on the European market for the manufacturing of tyres for two-wheelers. The joint venture will pave the way for Trelleborg to grow its business globally by gaining access to additional production capacity.
The joint venture will establish a production site in western India and deliveries are expected to begin by the end of 2020. The joint venture will be 76:24, owned by the Mahansaria family and Trelleborg, respectively.
Commenting on the development, Yogesh Mahansaria from Mahansaria Family said, “We have known Trelleborg over the last two decades and deeply respect their progressive and entrepreneurial business spirit. Through this joint venture, we look forward to providing technologically advanced products of global standards to the ever-evolving Indian two-wheeler tyre market.” He further elaborates that the joint venture is in alignment with the Indian Government’s ‘Make in India’ initiative, as it will help bring foreign technology and capital to India for manufacturing locally and serving Indian as well as global markets.