Current Affairs - Business - Discussion

Maxxis India, the Indian subsidiary of Taiwan-based tyre-maker Maxxis, plans to launch 5 new manufacturing plants in India. The company had been supplying Original Equipment Manufacturer (OEM) tyre fitments to HMSCI through the Vietnam facility since 2016. But recently, it rolled out its first two-wheeler tyre consignment from its Sanand facility, Gujarat to Honda Motorcycle and Scooter India (HMSCI), Gurgaon. The Sanand facility is currently manufacturing two-wheeler tyres and tubes. It has a capacity to produce about 20,000 tyres and 40,000 tubes a day. The company now targets to supply one million tyres to its OEM partners by the end of this year. It also aims to capture at least 15% of the country's two-wheeler tyre market by 2023.