Beijing Auto sets up joint venture with Apollo Tyres
The Chinese company Beijing Auto Group, which manufactures cars, recently announced its readiness to start cooperation with the Indian company Apollo Tyres, a well-known producer of high-quality tires. The joint venture will be created in the city of Huanghua, located near the capital of China. The projected annual capacity of the joint tire business is one million units.
Many experts, having received information from the first hand - from the head of Beijing Auto, wanted to obtain confirmation of everything said from the other side, but so far the company Apollo Tyres has not confirmed or denied the statement made by the Chinese side.
However, it is known that back in the end of last year, planning activities for 2015, the bosses of Apollo expressed assumptions about the high probability of starting cooperation with Big China. This was mentioned, for example, by Sunam Sarkar, the chief financial director of the Indian company Apollo Tyres.
So it is quite likely that the joint venture will happen. And then the total number of tires produced per year in China will increase by another million. And if we consider that, according to Bloomberg, last year more than 941 million 200 thousand tires were produced, this figure looks quite respectable.
Many experts, having received information from the first hand - from the head of Beijing Auto, wanted to obtain confirmation of everything said from the other side, but so far the company Apollo Tyres has not confirmed or denied the statement made by the Chinese side.
However, it is known that back in the end of last year, planning activities for 2015, the bosses of Apollo expressed assumptions about the high probability of starting cooperation with Big China. This was mentioned, for example, by Sunam Sarkar, the chief financial director of the Indian company Apollo Tyres.
So it is quite likely that the joint venture will happen. And then the total number of tires produced per year in China will increase by another million. And if we consider that, according to Bloomberg, last year more than 941 million 200 thousand tires were produced, this figure looks quite respectable.