TVS Srichakra launches new brand

Chennai: Leading tyre manufacturer, TVS Srichakra Ltd eyeing for a larger pie in the two and three wheeler tyre industry on Tuesday launched a new brand, 'TVS Eurogrip' here.

According to top company officials, the new brand was based on the feedback from consumers and also the company's research and development wing in Milan, Italy.

"We have done well certainly to reach this height. We have a long way to go. We see tremendous growth opportunity," TVS Srichakra Ltd, Director, P Vijayaraghavan told reporters after unveiling the new brand.

The Tamil Nadu based company unveiled 19 premium tyres that includes a 'zero-degree steel belted radial' tyres in the country. To a query, he said the company would produce the new range of tyres at its facility in Madurai and also at Uttarakhand unit.

Company's Executive Vice-President, P Madhavan, said the unveiling of new range of tyres was in the backdrop of the industry witnessing a growth over the last few years.

Citing a report, he said industry grew at 8-9 per cent whereas the company was witnessing a growth of 15 per cent CAGR (compounded annual growth rate) year-on-year.