Toyo Tyre Corporation will establish a subsidiary in the Republic of Serbia to construct and operate a new tyre manufacturing plant in Indijia City, the company announced July 30 2019.
Toyo Tyre is supplying tyres for the European and Russian market from factories in Japan and Malaysia. As of 2022, the new manufacturing base in Serbia will take on a key role in this regard, the company said.
Toyo Tyre will begin construction of the plant in Serbia in May 2020 and initiate tyre manufacturing operations in January 2022, with a capacity of five million tyres annually (based on tyres for passenger vehicles) by the summer of 2023. The plant will primarily manufacture radial tyres for passenger vehicles and light trucks.