Ascenso Tyres has announced a US$100 million investment to expand its All Steel Radial Off-the-Road (OTR) tyre manufacturing capabilities in India, marking a significant step in the company’s strategy to establish itself as a major player in the mining tyre segment.
The investment comes as India’s mining industry enters a period of increased activity, driven by rising demand for coal and iron ore as well as the country’s growing focus on securing critical minerals such as copper, lithium, cobalt and rare earth elements. Government initiatives supporting domestic mineral production and the broader Atmanirbhar Bharat agenda are also encouraging greater investment in local mining, processing and equipment capabilities.
With mining operations becoming increasingly mechanised and technology-driven, operators across major coal, iron ore, bauxite and limestone producing regions are looking to improve equipment productivity, reduce downtime and manage operating costs more effectively. Tyres are consequently emerging as an important component of overall fleet performance, influencing equipment uptime, fuel consumption, safety and total cost of ownership.
Ascenso’s expansion is focused on addressing this requirement through a portfolio of All Steel Radial OTR tyres that are designed, engineered and manufactured in India. The company aims to offer a domestic alternative in a segment where large-format mining tyres have traditionally been heavily dependent on imports.
The US$100 million investment will support advanced manufacturing infrastructure, specialised radial tyre production technology, testing and product development facilities, engineering capabilities and infrastructure for producing larger tyres. It will also support future capacity expansion as Ascenso continues to build its mining portfolio in India.
The company’s range, which initially began with 25-inch tyres, has expanded to include 49-inch giant mining tyres, with additional sizes under development. Ascenso says the move places it among a limited number of tyre manufacturers globally with in-house capabilities to design and develop giant OTR tyres. The company is targeting applications across construction, quarrying, earthmoving and large-scale open-pit mining.
Ascenso is positioning its Radial OTR portfolio around a combination of performance and cost competitiveness. Its tyres are benchmarked against established premium global brands throughout the design, engineering and validation process, with the company aiming to provide comparable performance while offering a more competitive value proposition for Indian mining operators.
To strengthen its understanding of real-world mining conditions, Ascenso is also expanding its field engineering capabilities. More than 15 Field Application Engineers are being deployed across key mining markets globally, including India’s major mining regions. These teams will work closely with mine operators to track tyre performance, analyse wear patterns and understand operating conditions, feeding field data back into the company’s research and development teams.
The approach is intended to make product development more closely aligned with actual customer requirements rather than relying solely on laboratory testing. For Indian operations in particular, the field teams are expected to support continuous product optimisation across different terrains, equipment configurations and operating environments.
Ascenso’s move into radial OTR tyres began in late 2023 following discussions with customers who identified a growing requirement for high-performance radial products across multiple markets. The company subsequently established a specialised team comprising OTR engineers, application specialists and R&D professionals to develop its radial technology platform.
Since then, Ascenso has commercialised multiple Radial OTR products and is working towards a broader portfolio that will include larger wheel diameters, specialised tread designs and additional products for mining, earthmoving and loader applications through 2027 and 2028.
Yogesh Mahansaria, Managing Director, Ascenso Tyres, said the company’s investment is aimed at creating global-standard engineering and manufacturing capabilities within India rather than simply expanding production capacity. He added that the objective is to give Indian mining companies access to high-performance radial tyres without relying entirely on overseas suppliers.
Dhaval Nanavati, Chief Executive Officer, Ascenso Tyres, said the company’s experience in the Agriculture, Forestry and Construction segment has reinforced the importance of working closely with customers in the field. The company plans to apply the same approach to mining by placing field application engineers across India’s major mining belts and using operating data to continuously improve its products.
With its expansion into 49-inch giant mining tyres and its planned product development roadmap, Ascenso is seeking to strengthen its position beyond its established Agriculture, Forestry and Construction portfolio. The company’s longer-term strategy is to build a comprehensive radial mining tyre range in India that can serve both domestic operators and international markets.
The investment represents a broader push by Ascenso to establish India as a centre for advanced OTR tyre engineering and manufacturing. As the country expands its mining and mineral production capabilities, the company is positioning its locally developed radial technology as a potential alternative to imported products while continuing to compete on performance, engineering capability and value.
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