Kochi, India – Apollo Tyres has extended its offerings in Sri Lanka to become a “full-range player” in the country’s tire market.
Apollo extends presence in Sri Lanka
The Indian tire-maker has been operating in the Sri Lankan market since 2011 and is now introducing two-wheeler tires in the island nation.
“Apollo’s products have been well accepted across the country; and, this has prompted the company to introduce its two-wheeler range as well to service the estimated 250,000 – 300,000 vehicles a year market,” said a 17 July company statement.
Sri Lanka, added Apollo, contributes to more than 20% of the company’s exports to SAARC (South Asian Association for Regional Cooperation) countries.
“With Sri Lanka being the top island economy of the future, and FDIs [foreign direct investments] in the country increasing nearly 150% in 2016, we see this is as an opportunity for us to increase our focus here,” explained Satish Sharma, president, Asia Pacific, Middle East & Africa (APMEA), Apollo Tyres.
Ideal Wheels & Tyres is the sole distributor for Apollo Tyres in Sri Lanka.