Toyo Tire Corporation will establish a subsidiary in the Republic of Serbia to construct and operate a new tire manufacturing plant in Indijia City, the company announced July 30.
Toyo Tire is supplying tires 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 Tire will begin construction of the plant in Serbia in May 2020 and initiate tire manufacturing operations in January 2022, with a capacity of five million tires annually (based on tires for passenger vehicles) by the summer of 2023. The plant will primarily manufacture radial tires for passenger vehicles and light trucks.