J K Tyre & Industries is planning to invest Rs 1,430 crore in its Chennai tyres manufacturing facility to increase the capacity of the plant.

As per its expansion plan, the company will increase truck and bus radial capacity at the plant by an additional eight lakh tyres per annum, and car radial capacity by another 20 lakh tyre per annum.

In addition to this, the company is also planning to expand the capacity of its Mexican subsidiary Tornel, by 18 per cent from its present capacity of 3.2 million tyres, in various phases. In Phase-I of the expansion, the company will invest Rs 140 crore in the next 10 months. Post expansion, J K Tyre plans to introduce Tornel brands in India.

Meanwhile, the company has launched 10 new products for passenger cars, and truck and light commercial vehicles. The products also include ultra-high performance car tyres designed for premium high-end luxury cars such as Audi, BMW and Mercedes.