KOCHI, India—Apollo Tyres Ltd. has extended its offerings in Sri Lanka as part of its effort to become a "full-range player" in the country's tire market.
The Indian tire maker, which has been operating in the Sri Lankan market since 2011, is introducing two-wheeler tires in the island nation.
"Apollo's products have been well accepted across the country; and, this has prompted the company to introduce its two-wheeler range as well to service the estimated 250,000–300,000 vehicles a year market," Apollo said in a statement.
Sri Lanka contributes to more than 20 percent of the company's exports to SAARC (South Asian Association for Regional Cooperation) countries, Apollo noted.
"With Sri Lanka being the top island economy of the future, and FDIs [foreign direct investments] in the country increasing nearly 150 percent in 2016, we see this is as an opportunity for us to increase our focus here," said Satish Sharma, Apollo's president of the Asia Pacific, Middle East & Africa (APMEA) region.
Ideal Wheels & Tyres is the sole distributor for Apollo Tyres in Sri Lanka.