Italy's Pirelli and India's Balkrishna Industries float JV to make tyres
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Pirelli has partnered with Balkrishna Industries to manufacture up to 8 lakh tyres annually in Gujarat. This production is expected to commence in the next financial year, according to the company's joint managing director. Initially, Balkrishna Industries will produce tyres under an off-take arrangement for Pirelli at the new facility. There are plans for a 50:50 joint venture to produce passenger car tyres under both brands.
New Delhi: Italian tyre maker Pirelli and India's Balkrishna Industries have entered into a strategic partnership to manufacture up to 8 lakh Pirelli-branded tyres annually by 2030 at its upcoming facility in Bhuj, Gujarat.Production at the facility is expected to begin in the next financial year, said Balkrishna Industries joint managing director Rajiv Poddar.
In the first phase, Mumbai-based Balkrishna Industries Ltd (BKT), a leading off-highway tyre maker, will manufacture tyres for Pirelli at its upcoming Bhuj facility in Gujarat under an off-take arrangement, he added.
The agreement also envisages a second phase involving a proposed 50:50 joint venture to manufacture premium passenger car tyres under Pirelli and BKT brands, subject to the partners finalising their business plans.
The proposed facility would cater to the domestic and international markets, according to the companies' announcement.
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