Apollo Tyres prepares to meet demand from electric vehicles segment

Apollo Tyres expects electric vehicles' adoption to pick up pace over the next few years and is gearing up to cater to demand both in passenger vehicle and two-wheeler segments.

The company, which on Monday introduced two tyre brands for electric passenger vehicles and two-wheelers, is bullish on opportunities across domestic and international markets.

"The consensual view is that the electric two-wheeler segment will grow the fastest and in that too scooters will be the first followed by motorcycles.

"Besides, the bus segment will also grow and four-wheeler will probably reach about 15-20 per cent (of the overall passenger vehicle sales) by 2030," Apollo Tyres President (Asia Pacific Middle East and Africa) Satish Sharma told PTI in an interaction.

Electric two-wheeler sales could account for 30-35 per cent of overall sales by 2030, he suggested.

"There is every reason to believe that there will be rapid expansion of electric vehicles and therefore tyres for such models," Sharma