Apollo Tyres Ltd, is entering Saudi Arabia through a tie-up with Al-Jomaih Tyres Company Limited. The company is looking at the large and growing truck-bus radial and passenger car tyre market, aiming to capture a sizeable market share, in each of the segments, in the next couple of years.
“The entry into the Kingdom of Saudi Arabia is the culmination of a long-term product planning and development programme. We are now ready with products suited to cater to the Saudi market, which is the largest and important replacement tyre market in the Middle East region,” said Shubhro Ghosh, group head ASEAN, Middle East & Africa of Apollo Tyres.
“Saudi Arabia has a market potential of approximately 22 million tyres, and we have set a very aggressive target for ourselves, of selling nearly 800,000 tyres per annum, including both commercial vehicle and passenger vehicle tyres, within the next five years”, he added.
Commenting on the collaboration with Apollo Tyres, Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres, said: “ We have noticed that the premium tier 2 market in Saudi has been expanding at a fast pace and Apollo Tyres meets the need of local customers who are seeking quality products at competitive prices.”