New Delhi-based Advantec Wheels, on a mission to establish a premium aftermarket alloy wheels brand in India, is planning a Rs 100 crore investment in its business, set to become operational in April 2024. The company is constructing a state-of-the-art manufacturing facility in Jammu & Kashmir with a capacity of 200,000 units per annum, expected to be commissioned in Q1 FY2025. Focusing on personalisation, Advantec Wheels aims to cater to young car buyers and enthusiasts by offering a range of products with up to 25 paint finishes and three design options in sizes ranging from 16 to 22 inches. The company plans to price its products competitively, targeting sales volumes of around 90,000 wheels and aiming for Rs 25 crore in revenues in the first year. With distribution initially in key cities like Delhi-NCR, Bengaluru, Chandigarh, and Mumbai, Advantec Wheels plans to expand to a total of 13 cities and explore export opportunities in the Middle East, Europe, and the US. The company aims for profitability within 2-3 years and seeks to be a disruptive player in the premium alloy wheels category with its customised offerings.
