TVS Srichakra, a major player in the tyre industry under its Eurogrip brand, is developing next-generation fuel-efficient tyres specifically for electric vehicles (EVs), focusing primarily on the Indian market. The company's Chief Technology Officer, Sivaramakrishnan V, shared that they are working to reduce tyre rolling resistance by an additional 10% in the next 6 to 12 months, which would significantly improve EV efficiency. For example, a bike that currently runs for 100 km could potentially cover 110 km with these advanced low rolling resistance tyres.
TVS Srichakra offers a product range of 250 tyres, including 12 specifically designed for the EV segment. Over the past three years, the company has launched 45 new products in the premium and super-premium categories, with these new offerings accounting for 35% of the company's revenue, according to P Madhavan, Executive Vice President of Sales and Marketing.
The company exports 7% to 8% of its total production to 90 countries. Its standalone revenue from operations for FY24 was Rs 2,754 crore. TVS Srichakra's two manufacturing facilities, located in Madurai, Tamil Nadu, and Rudrapur, Uttarakhand, have a combined capacity to produce three million tyres per month. This development in fuel-efficient tyres for EVs represents a significant step towards supporting the growing EV market in India.
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