Viktor Orban, Prime Minister of Hungary, formally inaugurated Apollo Tyres’ new tyre manufacturing unit near Budapest, Hungary. This is Apollo’s 6th global tyre manufacturing unit and the second one in Europe. Present, on the occasion were Peter Szijjarto, Hungarian Foreign Affairs & Trade Minister, Rahul Chhabra, Ambassador of India to Hungary, Onkar S Kanwar, Chairman, and Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres.
This is Apollo Tyres’ first greenfield facility outside India. A highly automated plant with use of IT-driven systems and robotics, it employs young and skilled associates on the shopfloor, mostly hired locally.
The company is investing Euro 475 million in this facility. The final capacity at the end of Phase I would be 5.5 million passenger car & light truck (PCLT) tyres and 675,000 commercial vehicle tyres. This facility will complement Apollo Tyres’ existing facility in the Netherlands, and will produce both Apollo and Vredestein brand of tyres for the European market.