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Yokohama expands Indian operations to meet soaring demand for larger tires
Industry News- Dec 07,23
While still importing certain high-end tires, Yokohama maintains a strong commitment to local production in India, with up to 97% of its products manufactured domestically.
In response to the growing demand for larger tire sizes driven by increased sales in the premium and luxury vehicle segments, Yokohama, the Japanese tire maker, is preparing to enhance its capabilities in India, as revealed by Harinder Singh, MD & CEO at Yokohama India.
Singh highlighted the changing dynamics of India's tire market, pointing out that "India's tire market has traditionally centred around 14- to 17-inch tire sizes." He underscored Yokohama's swift response to the government's import ban by focusing on promoting local tire manufacturing, extending beyond conventional sizes. Currently capable of producing tires up to 18 inches in diameter, Yokohama aims to further expand this capability to accommodate sizes up to 22 inches.
While still importing certain high-end tires, Yokohama maintains a strong commitment to local production in India, with up to 97% of its products manufactured domestically. Singh expressed the company's dedication to establishing a robust local manufacturing ecosystem for tires in the country.
Yokohama, holding an 8% market share in the Indian tire replacement market, has announced plans to invest an additional $82 million to increase domestic passenger car tire production capacity. The company aims to raise its annual production capacity from 2.8 million to 4.5 million tires, with the new production line scheduled to commence operations in the fourth quarter of 2024 at the Visakhapatnam (Vizag) Off-Highway Plant.
Singh revealed, "This new line will be capable of producing passenger car tires up to 22 inches." Furthermore, Yokohama plans to localise the production of its flagship pattern, Advan, a preferred choice for European and US OEMs, at the Vizag plant. The Bahadurgarh, Haryana plant has already seen an investment of around $154 million to date, showcasing Yokohama's commitment to enhancing its manufacturing capabilities in India.
Source: Indiatimes
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