Wheels India signs technical pact with Japan's Topy Industries for alloy wheels
Wheels India has signed a technical agreement with Japan's Topy Industries for aluminium alloy wheel manufacturing. The company is expanding its alloy wheel capacity from 5 lakh to 7 lakh units next quarter, with further expansion to 10 lakh units planned by FY27. New orders have been secured from Hyundai and Volkswagen.
The technical collaboration with Topy Industries and expansion plans in the high-growth aluminium wheels segment are expected to significantly boost the company's business and market position.
The agreement with a renowned Japanese manufacturer, securing new orders from major OEMs, and planned capacity expansions indicate positive future growth prospects.
Wheels India Limited has signed a Technical Assistance Agreement with Topy Industries, headquartered in Tokyo, Japan. This agreement focuses on the design, development, and manufacture of aluminium alloy wheels, with Topy Industries providing technical know-how and engineering support to enhance Wheels India's capabilities in this segment.
Wheels India, which entered the alloy wheel business in FY21 with a facility in Chennai, has been exporting to the US and European after-markets. The company is now targeting the domestic market and has commenced supplies to Indian OEMs like Tata Motors and Stellantis. New orders have also been secured from Hyundai and Volkswagen, with supplies expected to commence next year.
Srivats Ram, MD of Wheels India, highlighted Topy Industries' century-long global reputation and advanced technologies in aluminium wheels. He expressed confidence that the agreement will bring significant technical expertise, help win new businesses, and strengthen the company's competitive advantage in the cast aluminium segment. The company also aims to target Japanese OEMs in India through this partnership.
Wheels India is undertaking a capacity expansion at its Thervoi Kandigai plant, increasing the annual capacity of alloy wheels from 5 lakh to 7 lakh units, expected to be completed by the end of the next quarter. Furthermore, the company plans another capacity expansion to 10 lakh wheels per annum by the end of FY27, driven by the positive outlook in the aluminium wheels segment.
The company already has a joint venture with Topy Industries for its steel wheels business through WIL Car Wheels Limited, holding a 74% equity stake and focusing on steel wheels for Japanese OEMs in India.
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Wheels India Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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