Japanese tire manufacturer Yokohama Rubber is investing $82m to expand passenger car tire production capacity in India. The company is looking to increase its annual production capacity from 2.8 million to 4.5 million tires to meet the growing demand from India’s expanding automobile market. The new capacity will be installed at the Visakhapatnam Plant in the eastern part of India, with the new line set to start production in the fourth quarter of 2024. Yokohama India, the company’s local manufacturing and sales subsidiary has been in operation since 2007 and has contributed to a sharp increase in Yokohama branded tire sales in India. The country’s automobile industry has been expanding rapidly, with total sales volumes in 2022 surpassing those of Japan, making it the third-largest automobile market in the world.
