Italian tyre maker Pirelli announced that Chinese state chemical giant Sinochem’s control over the company has ended.
The board majority approved the end of Sinochem's control, with 9 out of 15 directors voting in favour, citing international accounting standards. Chairman Jiao Jian and four other Chinese directors cast the five dissenting votes, while another director abstained.
“The decision regarding the absence of control of the shareholder Sinochem represents a first, but not decisive, step on the path to the necessary adjustment of company governance to regulatory constraints in the USA," the company said in a statement.
Pirelli, a key player in the high-value tyre segment, noted that the USA is crucial for developing and distributing its Cyber Tyre technology.
The company also declared its financial results for 2024. Pirelli's 2024 consolidated net profit rose 1% to €501.1 million, compared with €495.9 million in 2023. Revenue increased by 1.9% to €6,773.3 million.
The company's adjusted EBIT margin improved to 15.7 percent of sales from 15.1 percent in 2023, while the EBITDA adjusted margin rose to 22.4 percent from 21.7 percent.
Pirelli confirmed its 2025 targets despite a "high level of uncertainty surrounding US tariffs" and said it has defined a mitigation plan should the announced measures come into effect.
The company's net financial debt position decreased to €1,925.8 million at the end of 2024, down from €2,261.7 million a year earlier
Michelin India Expands Rajasthan Presence With New MTS Store In Jodhpur
- By TT News
- May 18, 2026
Michelin India has opened a new Michelin Tyres & Services (MTS) store in Jodhpur through a partnership with Sushil Tyres. Located on Chopasani Road, the facility expands the French tyre giant’s retail footprint across Rajasthan while offering premium tyre solutions to local motorists.
Spanning 1,800 square feet, the outlet features Michelin’s full range of passenger car tyres alongside modern wheel alignment and balancing equipment. The inauguration was led by Prashant Sharma, Michelin India’s National Sales Director, with the site designed to deliver a premium and convenient service experience.
Jodhpur, known as the Blue City and a fast-growing commercial hub in Rajasthan, benefits from a strong tourism economy and rising numbers of premium vehicle owners. Sushil Tyres, a trusted local name since 1984, brings over four decades of aftermarket expertise, making the collaboration a blend of global technology and deep community knowledge focused on safety, durability and performance.
Shantanu Deshpande, Managing Director, Michelin India, said: “Jodhpur represents a key market in Michelin's growth strategy for the region. The city's rapidly evolving mobility landscape, driven by growing infrastructure and a rising base of premium vehicle owners, makes it an important hub for our retail expansion. The launch of our new Michelin Tyres & Services Store in Jodhpur reinforces our commitment to expanding our network and ensuring greater accessibility to Michelin's premium products and services. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers”
Bridgestone India Launches ‘Feel The Bridgestone Difference’ Campaign Highlighting Critical Role Of Tyres
- By TT News
- May 18, 2026
Bridgestone India, a wholly-owned subsidiary of Bridgestone Corporation, has introduced a new brand campaign titled ‘Feel the Bridgestone Difference’. The initiative centres on the often-overlooked role of tyres as the sole critical contact point between a vehicle and the road. While every car is designed with a specific performance level in mind, the campaign argues that a vehicle can only realise its true potential when equipped with the appropriate tyres.
According to the campaign, tyres influence control, safety, confidence and driving smoothness far more than most drivers realise. Even the most well-engineered car delivers an incomplete experience without proper tyre fitment. Bridgestone positions its products as the key to unlocking a vehicle’s full capabilities, allowing drivers to feel a tangible difference on every journey. Over the past 30 years, Bridgestone India has focused on technology, manufacturing excellence, innovation and quality to build products that stand apart.
A key highlight of the campaign is the company’s commitment to staying ahead of industry standards without compromise. Bridgestone tyres offer benefits including better grip, stronger braking, smoother handling, lower road noise, improved fuel efficiency and longer tyre life. Drawing inspiration from nature, the campaign features animals such as the mountain goat, cheetah and rhino to symbolise grip, speed, strength and control in challenging terrains. This creative approach mirrors how Bridgestone tyres are engineered to perform across India’s diverse road and driving conditions.
The campaign serves as a reminder that while every car has built-in potential, the right tyres bring it to life. Promoted across multiple platforms nationwide, the initiative reinforces Bridgestone India’s long-standing promise of performance, safety and reliability for every driver.
Rajiv Sharma, Executive Director – Sales and Marketing, Bridgestone India, said, “Bridgestone has been a trusted name for Indian consumers, and that trust has come from consistently delivering safe, high-quality products and a superior driving experience. Our customers have experienced the Bridgestone difference over the years – whether in better control, smoother rides or long-lasting performance. ‘Feel the Bridgestone Difference’ is a campaign people will instantly relate to because it reflects something they have already felt. With this campaign, we want to take that experience to a larger audience and help more people understand how the right tyre fitment can completely transform the way a car performs.”
ZC Rubber Displays Portfolio And Strengthens Regional Partnerships At TyreXpo Asia 2026
- By TT News
- May 18, 2026
ZC Rubber showcased its full brand portfolio at TyreXpo Asia 2026 in Bangkok, drawing attention from customers, distributors and industry partners across Southeast Asia and other global markets. The Chinese manufacturer presented six of its brands at the event: WESTLAKE, GOODRIDE, CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE.
The Bangkok exhibition, recognised as a key Asian gathering for the tyre industry, brought together resources from the tyre sector, automotive aftermarket and related supply chains. This provided ZC Rubber with a strategic platform to demonstrate its brand strength, exchange market intelligence and pursue deeper regional cooperation.
Among the six brands on display, WESTLAKE and GOODRIDE drew particular interest from professional visitors due to their dependable performance and wide market adaptability. The additional presence of CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE further broadened the company’s ability to address varied market segments and customer applications. A major highlight was the X-Elite commercial tyre series, launched in 2025, which has already entered multiple overseas markets and gained strong recognition from fleets, dealers and end users for its durability, mileage and resilience in demanding conditions.
Representatives from Thailand’s Ministry of Energy visited the ZC Rubber booth during the show, learning about the company’s brand structure, product uses and Asian market development. Their visit underscored local interest in tyre industry and supply chain progress, reinforcing ZC Rubber’s commitment to deepening its Southeast Asian presence. Moving forward, the company plans to leverage its multi-brand strategy, comprehensive product lineup and global service capabilities to deliver high-value tire solutions and unlock further growth opportunities across the region.
Shen Haoyu, Senior Vice President, ZC Rubber, said, “Asia is a key part of ZC Rubber’s global strategy. Through international platforms such as TyreXpo Asia, we are able to listen more closely to our customers while demonstrating to global partners ZC Rubber’s confidence, upward momentum and strength to grow with the market.”
Justin Cui, Asia Sales Director, ZC Rubber, said, “The Southeast Asian market is highly dynamic and continues to raise expectations for product adaptability and service responsiveness. We will continue to strengthen local market engagement, work closely with our partners and seize new growth opportunities together to create greater value for users across the region.”
Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.
The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.
The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.
For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.
Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.
Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.
Apollo Tyres Posts 14% Rise In Q4 Revenue
Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.
The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.
The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.
For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.
Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.
Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.
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