Yokohama Rubber Breaks Ground for New Passenger Car Tire Plant in Mexico
Mumbai, April 22, 2024: The Yokohama Rubber Co., Ltd., has announced the commencement of its new passenger car tire plant in Mexico with a groundbreaking ceremony held on April 15. The event was attended by several local government officials and representatives from the community, including Coahuila Governor Manolo Jiménez Salinas and Saltillo Mayor Jose Maria Fraustro Siller. Yokohama Rubber’s Chairman & CEO Masataka Yamaishi and Member of the Board and Senior Managing Officer & Co-COO Nitin Mantri were joined by Shinichi Takimoto, Chairman and CEO of Yokohama Corporation of North America (YCNA), a Yokohama Rubber tire sales subsidiary, and Jeff Barna, President and CEO of Yokohama Tire Corporation (YTC), a US-based tire sales subsidiary.
During their opening remarks, Yamaishi and Barna expressed gratitude for the efforts in the upcoming construction phase of the plant and highlighted its significance in localizing Yokohama Rubber’s business in the North American market. The new plant will boost Yokohama Rubber’s tire production capacity in North America, allowing the company to meet the anticipated rise in demand with locally manufactured tires. With an annual production capacity of 5 million tires, construction is set to begin in the second quarter of 2024, with production slated to commence in the first quarter of 2027. The company also plans to explore options for expanding the plant’s capacity in the future.
Yokohama Rubber’s consumer tire strategy in its new three-year (2024–2026) medium-term management plan, Yokohama Transformation 2026 (YX2026), aims to enhance the sales of high-value-added tires. This includes expanding sales of YOKOHAMA’s global flagship ADVAN brand, the GEOLANDAR brand for SUVs and pickup trucks, winter tires, and 18-inch and larger tires. Additionally, the strategy emphasizes “Product and Regional Strategies” focused on strengthening tire development, supply, and sales to align with specific trends in regional markets.