HARYANA, India—Yokohama Rubber Co. Ltd. is planning to double annual capacity for passenger tires at its Yokohama India Pvt. Ltd. subsidiary over the coming 18 to 20 months with a $60 million investment.
The project, which will boost the 3-year-old plant's annual capacity 118.6 percent to 1.53 million tires, is designed to help the company "avoid capacity shortfalls" in light of India's strong sales growth projections.
The expanded plant in Haryana will produce passenger and SUV tires for both OE and replacement markets, YRC said.
Construction of the new facilities is expected to start in March with production scheduled to begin in the fourth quarter of 2019. YRC did not say whether it will be expanding the size of the 1.08 million-sq.-ft. plant or what impact the expansion will have on employment, which stands at 474 currently.
Yokohama Rubber established Yokohama India in April 2007 as a sales subsidiary and began production at the Haryana plant in July 2014.