Yokohama to invest to expand production capacity in India

To fulfil the rising demand from the local market, Yokohama has just announced that it is boosting its capacity to produce passenger car tyres in India. The business aims to enhance its annual passenger vehicle tyre production capacity in India with Yokohama India, its local passenger car tyre manufacturing and sales affiliate, from the existing 2.8 million to 4.5 million tyres with an extra investment of US$82 million. The Visakhapatnam Plant's premises will be where this increased capacity is installed. The new line will be able to produce passenger car tyres up to 22 inches and is expected to begin production in the fourth quarter of 2024. The tyres marketed in India are specifically suited for Indian driving conditions and are manufactured by Yokohama India, which has been in business since 2007. India is becoming one of the most significant markets for Yokohama Rubber thanks to the company's quick growth. India will surpass Japan in total vehicle sales in 2022, making it the third-largest auto 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 capacity of Yokohama India's annual manufacturing has been continuously increased to meet this growth, going from an initial 700,000 tyres in 2014 to 1.53 million in 2019 and 1.96 million in 2021. The business has been running its plant at a 2.8 million yearly capacity since January 2023.