Continental tires want to enter the Indian market

Continental AG, the global auto parts supplier, said on August 30 that due to the rapid development of the Indian auto market and the tire market, Continental tires are looking for a suitable opportunity to enter the Indian market.

Continental is the fourth largest tire manufacturer in the world. In an interview, the board member of the Continental Group, Helmut Matschi, stated: “The Indian market is one of the major developments for the future development of the Continental Group. We are very interested in the Indian passenger car tire market and are looking for the right opportunity to enter the Indian market.”

Claudese Gama Rose, managing director of Continental Group India, subsequently stated: “We have received information from the OEMs on the Indian market to invite the mainland to enter the Indian market. However, the mainland’s tires have not yet decided on the specific steps and time for entering the Indian market. ."

Claude also said that the mainland is currently investing in technological innovation and R&D in the Indian market, and China plans to increase the number of R&D engineers in India by another 30% this year. At present, the mainland India R&D center has 750 employees.

It is reported that the Indian passenger car tire market is currently growing at a rate of 35% to 40%, while the commercial vehicle tire and two-wheeled vehicle tire market are growing at a rate of 50% and 30% respectively.