"TVS Eurogrip Targets Growth in Premium and Electric Two-Wheeler Tyre Markets"

TVS Srichakra Ltd, under its TVS Eurogrip brand, is focusing on expanding its presence in the premium and electric two-wheeler tyre segments through a strategic approach to capitalize on the growing demand for these products. The company has seen a steady increase in revenue contributions from new products, with 35% of its FY24 revenue coming from recent launches in these emerging categories, up from 22% in FY21.

P. Madhavan, Executive Vice-President of Marketing & Sales at TVS Srichakra Ltd, emphasized that their premium tyres for motorcycles above 150cc have bolstered their market position both in India and internationally. "In the last three years, we have introduced over 40 new products, moving away from traditional commuter tyres to high-performance and off-road models to meet shifting consumer preferences," he said.

TVS Eurogrip’s growth has been supported by its investment in global expertise, including a design center in Milan, Italy, and testing facilities across Europe, Japan, and India. These efforts have helped the company establish itself as a premium tyre brand. Government policies restricting certain multinational imports further accelerated TVS Eurogrip's expansion into the premium segment, enabling it to capture a larger market share.

The Milan R&D facility has developed over 120 products, handling product design, material development, and validation, and working in collaboration with the company’s Madurai R&D center. Together, they manage around 250 projects annually and hold more than 40 patents.

With the rise of electric vehicles (EVs), TVS Eurogrip has launched a dedicated line of low-rolling resistance tyres for electric two-wheelers, gaining 18 OEM approvals for its products. The company supplies EV tyres to all major electric two-wheeler brands in India and serves as the exclusive tyre supplier for Bajaj’s newly launched CNG-powered bike.

Looking ahead, TVS Eurogrip aims to enhance its offerings through advanced technologies to improve key performance metrics like dry and wet grip, rolling resistance, durability, and drag. Chief Technology Officer V. Sivaramakrishnan stated that the company is focused on reducing rolling resistance by 10% over the next 6 to 12 months, which will help improve mileage per charge for EV users.

The company is also expanding its product range in the premium segment and strengthening partnerships with OEMs, with plans to launch new tyres specifically designed for electric motorcycles and other EVs. As TVS Eurogrip continues to innovate, it remains committed to driving growth in the evolving premium and electric two-wheeler markets.

HBL