Chennai, Dec 16 (PTI) Leading manufacturer of wheels for trucks, passenger vehicles and construction equipment, Wheels India, has signed a technical assistance agreement with Japan-headquartered Topy Industries
for the design, development and manufacturing of aluminium alloy wheels.
As per the collaboration, Topy Industries would provide technical know-how and engineering support to enhance Wheels India's design and manufacturing capabilities for the cast aluminium wheel business.
"Topy Industries is an over 100 year-old globally renowned wheel manufacturer. This agreement is expected to bring in considerable technical expertise in the aluminium wheel segment for Wheels India. They are a leading manufacturer of aluminium wheels with evolved cutting-edge technologies," said Wheels India MD Srivats Ram.
"We are confident that this agreement will also help us win new businesses and bolster our competitive advantage in the cast aluminium segment," he said in a company statement on Tuesday.
Wheels India had forayed into the alloy wheel business in FY21 with a state-of-the-art facility at Thervoy Kandigai located on the outskirts of Chennai. Having commenced production of alloy wheels to the US and European after markets, Wheels India is now targeting the domestic market and has commenced supplies to companies like Tata Motors, Stellantis, the statement said.
On the new opportunities in the aluminium wheels segment, Srivats Ram said, "Through this agreement, we are hoping to make fresh inroads into the Japanese OEMs in India in the alloy wheel segment."
Wheels India was also in the process of expanding the annual capacity at its alloy wheels plant in the Thervoy Kandigai factor to take up the plant capacity to 7 lakh wheels per annum from the current 5 lakh wheels. "This capacity expansion is expected to be completed by the end of the next quarter, " the company said.
Next year, the company is planning to further expand its capacity to 10 lakh wheels per annum following the prospects in the aluminium wheels segment, the statement said. PTI VIJ VIJ ROH
