Ascenso Invests $100 Million to Build Giant Mining Tyres in India

Key Highlights

• US$100 million investment for ASR tyre manufacturing in India.

• Mining tyre portfolio expanded from 25-inch to 49-inch sizes.

• More than 15 Field Application Engineers to support mining customers.

• Larger tyres, new tread patterns and wheel sizes planned through 2027-28.

• Products target mining, construction, quarrying, earthmoving and loader applications.

India’s growing mining and infrastructure activity is creating demand for high-performance equipment that can deliver better productivity, uptime and cost efficiency. Addressing this opportunity, Ascenso Tyres has announced a US$100 million investment to build world-class All Steel Radial (ASR) Off The Road (ROTR) tyre manufacturing capability in India.

The company is expanding its mining tyre portfolio from 25-inch products to 49-inch giant mining tyres, with larger sizes already under development. Ascenso is also deploying more than 15 Field Application Engineers across key mining markets and has outlined a technology roadmap extending through 2027 and 2028.

India’s Mining Sector Drives Demand for Giant Tyres

India’s mining industry is undergoing significant expansion, supported by rising steel production, higher coal and iron ore output and efforts to strengthen domestic access to critical minerals.

The country is also increasing exploration and production of minerals such as copper, lithium, cobalt and rare earth elements through initiatives including the National Critical Mineral Mission and mineral block auctions under the amended Mines and Minerals (Development and Regulation) Act.

This development aligns with the broader Atmanirbhar Bharat push to strengthen domestic capabilities in mining, processing and equipment instead of relying heavily on imports.

Mining operations across Odisha, Jharkhand, Chhattisgarh, Karnataka, Madhya Pradesh and Rajasthan, covering coal, iron ore, bauxite and limestone, are becoming larger, more mechanised and increasingly automated.

As a result, operators are looking for higher fleet productivity, better equipment uptime and lower operating costs. Tyres are also becoming an increasingly important part of this equation because they influence machine productivity, fuel efficiency, safety and overall total cost of ownership.

Ascenso Announces $100 Million India Investment

To address this growing requirement, Ascenso is expanding its All Steel Radial Off The Road (ROTR) portfolio, with the products designed, engineered and manufactured in India.

The company has committed US$100 million exclusively to building ASR tyre manufacturing capabilities at its Indian production facility.

The investment will cover:

• Advanced manufacturing infrastructure

• Specialised radial tyre production technology

• Product development and testing

• Engineering talent

• Giant tyre manufacturing infrastructure

• Future production capacity expansion

Ascenso says the investment is focused not simply on increasing production capacity but on developing world-class radial mining tyre engineering and manufacturing capabilities within India.

From 25-Inch Tyres to 49-Inch Giant Mining Tyres

Ascenso initially entered the mining tyre segment with 25-inch tyres. Its portfolio has now expanded to 49-inch giant mining tyres, while even larger sizes are under development.

The products are intended for applications ranging from construction and quarrying to large open-pit mining operations.

According to Ascenso, its move into giant tyre manufacturing makes it the second Indian tyre brand and the fifth globally outside China to enter this segment with its own in-house design and development capability.

The company aims to develop one of the industry's most comprehensive radial mining tyre portfolios, with products engineered in India and continuously upgraded through new technology.

Premium Performance at Competitive Pricing

Ascenso is following a performance-focused strategy rather than competing only on price.

The company's Radial OTR tyres are benchmarked against established global premium brands during the design, engineering and validation stages. Ascenso aims to offer performance approaching leading global brands while maintaining a competitive price point for Indian mining operators.

The company believes this approach can provide an alternative to imported mining tyres, particularly in the 35-inch and above segment, where it has already developed performance credentials.

For mining operators, the strategy focuses on balancing productivity and cost efficiency, rather than selecting tyres purely on their purchase price.

Field Engineers to Work Directly With Mining Operators

Ascenso is also strengthening its customer-facing engineering capabilities.

The company is deploying more than 15 dedicated Field Application Engineers across key mining markets globally, including India's major mining regions.

These engineers will work directly with mining operators to:

• Monitor tyre performance

• Analyse tyre wear behaviour

• Understand local operating conditions

• Collect field data

• Feed operational insights into Ascenso's global R&D organisation

Mining conditions can vary significantly depending on geography, equipment and application. Ascenso says its field-based approach will help it optimise products faster and ensure future tyre generations are developed around actual operating conditions.

In India, the field teams will operate across important mining belts, including the coalfields of Jharkhand and Odisha and iron ore regions of Chhattisgarh and Karnataka.

Radial OTR Programme Started in 2023

Ascenso's Radial OTR programme began in late 2023, following extensive customer discussions that highlighted demand for high-performance radial mining tyres across several markets, including India.

The company subsequently assembled a specialised team comprising experienced OTR engineers, application specialists and dedicated R&D professionals to develop a new technology platform.

Since then, Ascenso has commercialised multiple Radial OTR products and expanded its development programme toward giant mining tyres, specialised tread patterns and larger wheel diameters.

The company's roadmap covers 2027 and 2028, with new sizes and tread patterns planned across mining, earthmoving and loader applications.

Building a Mining Tyre Brand in India

Ascenso is transitioning from its established presence in Agriculture, Forestry and Construction (AFC) tyres into the more performance-intensive mining segment.

The company says it wants its mining products to be compared with established global performance brands on the basis of performance while remaining competitively priced.

This strategy is intended to give Indian mining operators a domestically manufactured alternative to imported tyres without requiring them to compromise on performance.

What Ascenso Says

Yogesh Mahansaria, Managing Director, Ascenso Tyres, said India's mining sector is expanding rapidly and requires tyres capable of matching the demands of increasingly intensive operations. He said the US$100 million investment is focused on creating world-class radial mining tyre engineering and manufacturing capabilities in India for both domestic and global markets.

Dhaval Nanavati, Chief Executive Officer, Ascenso Tyres, said the company's experience in Agriculture, Forestry and Construction has reinforced the importance of staying close to customers. He highlighted the deployment of Field Application Engineers in India's mining belts and described reaching 49-inch giant mining tyres engineered in India as a significant milestone for both Ascenso and Indian manufacturing.

Ascenso Tyres: Company Profile

Ascenso Tyres is an India-based manufacturer of off-highway tyres. Over the past four years, the company has developed a presence in the Agriculture, Forestry and Construction (AFC) segments.

It is now expanding into the performance-driven mining sector through its All Steel Radial (ASR) Off The Road (ROTR) range, designed and manufactured at its Indian production facility.

Under its “Never Stop Rising” philosophy, Ascenso is continuing to expand its product portfolio, manufacturing capabilities and field presence across India and key international markets.

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CMV360 Says

Ascenso’s US$100 million investment marks a major expansion of its India-based off-highway tyre manufacturing capabilities. With 49-inch giant tyres, field engineering teams and a roadmap through 2028, the company is targeting mining, earthmoving and loader applications. Its focus on domestic design, manufacturing, testing and customer-led development could strengthen India’s capability to produce large radial OTR tyres while creating an alternative to imported products for domestic and global markets.