Key Highlights
- Wheels India signs technical assistance agreement with Japan-based Topy Industries.
- Agreement covers design, development and manufacture of aluminium alloy wheels.
- Topy Industries to provide technical know-how and engineering support.
- Alloy wheel capacity to rise from 5 lakh to 7 lakh units per annum by next quarter.
- Further expansion to 10 lakh alloy wheels per annum planned by end of FY27.
Wheels India Limited has entered into a technical assistance agreement with Japan-headquartered Topy Industries to strengthen its aluminium alloy wheels business. The collaboration focuses on the design, development and manufacture of cast aluminium wheels and is expected to support the company’s expansion plans in the domestic and global markets.
As part of the agreement, Topy Industries will provide technical know-how and engineering support aimed at enhancing Wheels India’s design and manufacturing capabilities in the aluminium wheels segment. Topy Industries is a globally established wheel manufacturer with over a century of experience in advanced wheel technologies.
Wheels India entered the alloy wheel segment in FY21 with a dedicated manufacturing facility at Thervoi Kandigai near Chennai. The company initially catered to export markets, supplying alloy wheels to the US and European aftermarket. It has since expanded its focus to the domestic original equipment manufacturer market and has commenced supplies to Indian OEMs including Tata Motors and Stellantis.
The company has also secured new aluminium wheel orders from Hyundai and Volkswagen and expects to begin supplies to these customers in the next financial year. Management expects the technical collaboration with Topy Industries to support new order inflows and strengthen the company’s competitive position in the cast aluminium wheels segment.
To support rising demand, Wheels India is in the process of expanding the annual capacity at its Thervoi Kandigai alloy wheel plant from 5 lakh wheels to 7 lakh wheels. This capacity expansion is expected to be completed by the end of the next quarter. The company is also planning a further expansion to 10 lakh wheels per annum, with completion targeted by the end of FY27.
The agreement is expected to help Wheels India deepen its engagement with Japanese OEMs operating in India. The company already has an existing joint venture with Topy Industries in the steel wheels segment through WIL Car Wheels Limited, in which Wheels India holds a 74 percent equity stake.