- Investment: 48.8 billion yen (390.5 million euros)
- Construction starts: May 2020
- Operations begin: January 2022
- Production capacity: 5 million tires annually
New Plant in Serbia
Toyo Tire Corporation is establishing a subsidiary in the Republic of Serbia to construct and operate a new tire manufacturing plant in Indijia City. This move is part of their strategy to strengthen their global business platform by producing high-value products and ensuring timely supply to the global market.
Strategic Importance
The new plant will play a key role in supplying tires to the European and Russian markets, complementing existing factories in Japan and Malaysia. The facility will enhance Toyo Tire's global manufacturing and supply system.
Technological Integration
The plant will be equipped with IoT technologies, including a Manufacturing Execution System (MES), to operate as a sophisticated smart factory. This will enable competitive manufacturing with high quality at low cost, focusing on luxury passenger vehicles and light trucks.
Business Environment
Serbia offers a favorable business environment with a skilled workforce, low wages, and a growing automotive industry supported by foreign investments. The country's strong relationship with Japan further adds to its attractiveness as a business location.
Project Timeline and Investment
Construction of the plant will begin in May 2020, with tire manufacturing operations set to start in January 2022. The plant aims to reach a production capacity of five million tires annually by the summer of 2023. The total investment for this project is approximately 48.8 billion Japanese Yen (390.5 million Euros).
Plant Details
The new plant will be located in Indijia City, Autonomous Province of Vojvodina, Serbia, covering an area of about 600,000 square meters. It will employ around 500 people and focus on manufacturing radial tires for passenger vehicles and light trucks.
