Apollo Tyres Limited, a leading Indian multinational tire manufacturer, has grown from a modest domestic operation into a global player with facilities across Asia and Europe. Headquartered in Gurgaon, India, the company specializes in producing tires for passenger cars, trucks, buses, and off-road vehicles. Since its inception in the 1970s, Apollo Tyres has navigated economic reforms, international expansions, and market challenges to establish itself in over 100 countries. This article chronicles its evolution, highlighting key milestones, acquisitions, and innovations.
Founding and Early Years (1970s–1980s)
Apollo Tyres was incorporated on September 28, 1972, as a public limited company in India, promoted by entities including Bharat Steel Tubes Ltd., Raunaq International Pvt. Ltd., and individuals like Raunaq Singh and Mathew T. Marattukalam. It obtained its certificate of commencement of business on October 24, 1972. The company made its initial public offering of equity shares in 1975. Its first manufacturing plant was commissioned in 1977 at Perambra in Thrissur, Kerala, marking the start of production focused on automobile tires and tubes. During this period, Apollo concentrated on building a foundation in the Indian market, producing bias tires for two-wheelers and gradually expanding to other vehicle segments.
The 1980s were a time of consolidation, with the company establishing itself as a key player in India's burgeoning automotive industry amid the country's pre-liberalization economy.
Domestic Expansion and Acquisitions (1990s–2000s)
The 1990s brought significant growth through new facilities and acquisitions. In 1991, Apollo established its second plant in Limda, Gujarat, enhancing production capacity. Four years later, in 1995, it acquired Premier Tyres Limited, which became its third plant in Kochi, Kerala. This move bolstered its presence in southern India.
Apollo's first international foray occurred in 1996 with the acquisition of Dunlop's operations in Africa, signaling ambitions beyond India. Entering the 2000s, the company continued domestic expansion by starting a new plant in Chennai, Tamil Nadu, in 2008. In 2009, Apollo made a pivotal acquisition by purchasing Netherlands-based Vredestein Banden B.V. (later renamed Apollo Vredestein B.V.) for an undisclosed amount, gaining access to premium European tire technology and markets. This acquisition integrated Vredestein's 110-year-old heritage into Apollo's portfolio, expanding its product range to include high-performance tires.
Global Ambitions and Innovations (2010s)
The 2010s marked Apollo's aggressive push into global markets. In 2013, it disposed of the Dunlop brand in Africa and most of its South African operations to Sumitomo Rubber Industries of Japan. The same year, Apollo established its Global R&D Centre in Enschede, Netherlands, focusing on advanced tire technologies.
Further expansions included acquiring Germany's Reifencom tire distributor in 2015 for €45.6 million, strengthening distribution networks in Europe. That year, it also shifted its European corporate office to Amsterdam and opened a Global R&D Centre in Chennai, India. In 2016, Apollo signed a memorandum of understanding with the Government of Andhra Pradesh to set up a new factory.
By 2017, the company inaugurated its second European plant in Gyöngyöshalász, Hungary, with an investment aimed at producing passenger car and light truck tires. In 2018, foundation was laid for a ₹1,800-crore tire factory in Chinnapanduru, Andhra Pradesh, with an initial capacity of 5.5 million passenger car radial tires and truck-bus radial tires annually. Apollo also entered the three-wheeler tire segment via contract manufacturing that year.
Challenges and Recent Developments (2020s)
The 2020s presented regulatory hurdles. In 2022, the Competition Commission of India raided Apollo's headquarters amid allegations of anti-competitive practices, leading to a ₹425.53 crore fine for cartelization in tire pricing for Haryana's public transport.
Despite challenges, growth continued. In 2023–2024, Apollo focused on operational enhancements and sustainability. In October 2024, it secured a contract with SemiCab for logistics optimization in southern India, with plans to expand southwest. Financially, FY2024/25 saw a 2.9% revenue increase to ₹261.2 billion ($3 billion), with Q4 revenue at ₹64.24 billion. The third quarter of FY2025 reported a 5% revenue rise to ₹6,928 crores.
In 2025, Apollo expanded its product line by adding sizes to the AWE 723+ dual excavator tire range. It also increased its stake in wind power producer GIWPPL to 21.27% in May, supporting renewable energy goals. Plans for FY2026 include an ₹8 billion capital expenditure to boost passenger car tire capacity in India and Europe. Chairman Onkar Kanwar expressed cautious optimism post-FY2025, emphasizing strategic investments.
Current Status and Future Outlook
As of August 2025, Apollo Tyres operates five plants in India (Perambra, Limda, Kochi, Chennai, and Andhra Pradesh), one in the Netherlands, and one in Hungary. The company offers brands like Apollo, Vredestein, Kaizen, and Regal, catering to diverse segments including electric vehicles and sustainable tires. With a focus on R&D and global expansion, Apollo aims to cover up to 90% of the truck and bus radial market by enhancing capacities. Despite past controversies, its resilience positions it for continued growth in a competitive industry.