Wheels India & Topy Ink Alloy Wheel Pact

New Delhi, Dec 15 (PTI) Wheels India on Monday said it has signed a technical assistance agreement with Japan's Topy Industries for design, development and manufacture of aluminium alloy wheels.

Topy will provide technical knowhow and engineering support to enhance Wheels India's design and manufacturing capabilities for cast aluminium wheel business under the agreement, the company said in a statement.

"This agreement is expected to bring in considerable technical expertise in the aluminium wheel segment for Wheels India. We are confident that this agreement will also help us win new businesses and bolster our competitive advantage in the cast aluminium segment," Wheels India Managing Director Srivats Ram said.

Topy Industries is an over 100-year-old globally renowned wheel manufacturer. They are a leading manufacturer of aluminium wheels with cutting-edge technologies, he noted.


Srivats further said,"Through this agreement, we are hoping to make fresh inroads into the Japanese OEMs in India in the alloy wheel segment."

The company said it has also bagged new orders for its aluminium wheels business from Hyundai and Volkswagen and expects to commence supplies next year.

Wheels India said it is currently in the process of expanding the annual capacity at its alloy wheels plant at Thervoi Kandigai (in Tamil Nadu) to 7 lakh wheels per annum from the existing 5 lakh wheels per annum.

This capacity expansion is expected to be completed by the end of the next quarter, it said, adding buoyed by the prospects in the aluminium wheels segment, the company is planning to further expand its capacity to 10 lakh wheels per annum, which is expected to be completed by the end of FY27.

Wheels India already has a joint venture with Topy for steel wheels business through WIL Car Wheels Ltd with a 74 per cent equity holding. This JV is focused on steel wheels for the Japanese OEMs (Original Equipment Manufacturers) in India.