Yokohama, one of the world’s leading tyre manufacturers, is mulling expanding its operations in India to meet the growing demand for larger tyre sizes in the country. This increase in demand comes from the rise in sales of vehicles in the premium and luxury categories. According to Harinder Singh, the MD and CEO of Yokohama India, the Japanese tyre maker is preparing to enhance its capacity to cater to this rising demand.
Mr Singh also highlighted the changing dynamics in India’s tyre market sector by stating, The tyre market in India mainly deals with tyre sizes that range from 14 to 17 inches. He stressed that Yokohama promptly responded to the Indian government’s import restrictions by focusing on promoting local tyre manufacturing, moving beyond the traditional tyre sizes.
Currently, the tyre maker is capable of producing tyres up to 18 inches in diameter. And they are aiming to enhance this capacity to accommodate tyre sizes up to 22 inches in the coming future.
Yokohama is still importing some high-end tyres but is firmly committed to producing the majority of its products locally in India, with up to 97% of them being manufactured domestically. Mr Singh emphasised the company’s commitment to building a solid tyre manufacturing ecosystem within the country. Yokohama boasts an 8% market share in India’s tyre replacement market. It has announced plans to invest an additional $82 million to expand its capacity for producing passenger car tyres domestically in the country. The Japanese company is looking to raise its annual production capacity from 2.8 million to 4.5 million tyres, with the new production line slated to start operations in the fourth quarter of 2024 at Visakhapatnam, Andhra Pradesh.
Mr Singh also said, “This new line will manufacture passenger car tyres up to 22 inches.” Moreover, Yokohama plans to localise the production of its flagship tyre pattern, Advan, a preferred choice for European and US Original Equipment Manufacturers (OEMs), at the Visakhapatnam plant. The Bahadurgarh, Haryana plant has already witnessed an investment of approximately $154 million to date, demonstrating Yokohama’s commitment to enhancing its manufacturing capabilities in India.
Lately, Yokohama has been taking relevant steps to meet the increasing demand for larger tyres in India as its automobile industry is growing at a fast pace. The company is demonstrating its commitment to delivering high-quality products that exceed customer expectations by expanding its operations. With these moves, the Japanese tyre major is positioning itself as a leader in the tyre industry while assuring its customers that they can trust its products to perform exceptionally well in all conditions.
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