Mumbai, Oct. 22 -- The partnership also envisages the establishment of a 50:50 joint venture (JV) to set up a dedicated manufacturing facility in the country.

Under the first phase of the agreement, BKT will manufacture up to 8 lakh Pirelli-branded tyres by 2030 at one of its newly constructed manufacturing plants, equipped with advanced technology. The tyres will be produced in accordance with Pirelli's specified technological and quality standards under an offtake arrangement.

The second phase, subject to certain conditions, envisages the formation of an equal joint venture between the two companies and the construction of a manufacturing facility dedicated to high-value passenger car tyres. The proposed plant will manufacture tyres u...