CURRENT AFFAIRS

Detailed explanation-1: -Indian tyre major Apollo Tyres signed a Memorandum of Understanding with the Government of Andhra Pradesh to set up a state-of-the-art manufacturing facility.

Detailed explanation-2: -Apollo Tyres Ltd. came into inception in 1972 and has since been a trusted name in the business of manufacture and sale of tyres. With our corporate headquarters in Gurgaon, India, we cater to over a 100 countries across the globe. Our first plant was commissioned in Perambra, Thrissur, Kerala, India in 1975.

Detailed explanation-3: -The plant will come up over a 200-acre site in Chinnapanduru village near Sri City in Tirupati district and produce passenger car radial (PCR) tyres with an initial capacity of 55 lakh (5.5 million) tyres per year and also truck bus radial (TBR) tyres and will serve both domestic and export markets.

Detailed explanation-4: -The company’s premium tyre brand Vredestein has been selected as a fitment on the Volkswagen Polo, Seat Ibiza and Ford EcoSport and the supplies have already begun to these auto makers, Apollo Tyres said in a statement.