Yokohama Rubber expands passenger car tire capacity in India to 4.5 million tires
To address the rising demand from the domestic market, Yokohama Rubber Co., Ltd., today announced that it is boosting passenger vehicle tire production capacity in India. The business aims to raise its annual passenger vehicle tire production capacity in India through Yokohama India Pvt. Ltd. (YIN), its local subsidiary that manufactures and sells passenger car tires, from the existing 2.8 million to 4.5 million tires with an extra expenditure of 82 million US Dollars.
The Visakhapatnam Plant in eastern India will have this increased capacity added to its property. The new line will be able to construct passenger vehicle tires up to 22 inches in diameter and is expected to begin production in the fourth quarter of 2024.
Since it began operating in 2007, YIN has played a significant role in the dramatic rise in sales of tires bearing the Yokohama brand in the Indian market. The tires that are offered in India were created especially for the country's road conditions. India has become one of the most significant markets for Yokohama Rubber because of YIN's quick growth and production of high-quality tires that satisfy local market demands.
India will surpass Japan in total automotive sales in 2022, making it the third-largest automobile market in the world. The country's auto sector has been growing quickly. Yokohama Rubber anticipates that this expansion will last into the future. The firm has gradually increased YIN's yearly manufacturing capacity to meet this expansion, going from an initial 700,000 tires in 2014 to 1.53 million in 2019 and 1.96 million in 2021. With effect from January 2023, YIN has been running its facility at a 2.8 million annual capacity.
