CHANDIGARH, JUL 10: Punjab-based motorcycle and bicycle tyre manufacturer Metro Tyres is planning to expand overseas and is eying the European Union market.
The company has launched its Ortem range of tyres across EU and aims to market it for the next two-months. Collaborating with the German tyre making giant Continental AG for tubeless tyre manufacturing in India for European market is in the final stage to unveil its distribution cell in Barcelona.
Apart from technological support from Continental AG, the german giantwill also source the tyres from its Indian partner. "Tubeless tyers in bikes is a new concept in India that is bound to take off in future," Chabbra said.
"European markets hold much bigger potential for the company as far as cycle and bike tyres are concerned," he said. Chabbra further added that Metro Tyres at present holds 24% in the bicycle and 3% in the motorcycle tyre market in India. The company aims to capture 10% share in the motorcycle business in the next two years. He revealed that cost of tubeless tyres would be Rs 50-60 over and above the conventional tyres. "The company perceives the demand would push bike manufacturing companies in the country towards tubeless tyres in future,"he said.