Lubricant manufacturer and supplier Idemitsu Lube India launched Idemitsu Four-wheel Gasoline (IFG), Idemitsu Four-wheel Dual (IFD) & Idemitsu Rider Gasoline (IRG) series of oils for cars and motorcycles in India.
Speaking to Mobility Outlook, Akira Kitagawa, DMD, Idemitsu, said that India is a challenging market requiring globally recognised products.
To cater to such requirements, the company has utilised three years to develop the new products and test them across the globe along with people from India and professional and actual drivers, Kitagawa added.
The IFG and IFD series engine oils will be available in two categories, including flagship product (IFG7/IFD7 Series), high-premium product (IFG5/IFD5) while the IRG series engine oil will be available in three categories, including flagship (IRG7 Series), high-premium (IRG5) and premium (IRG3).
Hiroshi Kono, Managing Director, Idemitsu Lube India, said, “The much awaited, new Idemitsu IFG, IFD and IRG series engine oils are a result of thorough research and hard work of our team.”
Current Situation, Expansion
Kitagawa said that over the years, the company has focused on its business with the OEMs, specifically with the Japanese ones; hence it has not attained recognition in other markets. Going ahead, the company plans to expand its presence across open markets as well as industrial markets, he confirmed. The company has already started setting up channel partners across the country and plans to expand its network during FY23.
With this, the company expects exponential growth in the current fiscal. Kitagawa noted that the company expects a 120% YoY growth in the current fiscal as it expands its presence across open and industrial markets. Additionally, the lube maker also aims to take advantage of the growing popularity of eco-friendly lubricants.
Although eco-friendly lubricants have a very niche market, the company expects that it can benefit from this demand using its in-house technologies, Kitagawa concluded.