TOKYO— Yokohama Rubber Co. Ltd. has spelled out details of its expansion program for 2023, as it concludes its ongoing medium-term management plan "Under Yokohama Transformation 2023," or YX2023.
The projects, the Japan-based tire and rubber group said Feb. 17, include a car tire capacity expansion in India, which will see the group increasing output there by 60 percent to 4.5 million units per year.
In its commercial tire business, YRC will explore opportunities created by market changes, with a focus on four themes: cost, service, digital transformation (DX) and strengthening its product line-up.
In the off-highway tire (OHT) business, which has been described as "a key driver" for future growth, the group will bring its production facility in Visakhapatnam, India, to "full capacity" during 2023.
The plant began production ahead of schedule in August last year.
YRC also is investing toward the expansion of truck and bus tire production, including tires for light trucks, at its Mie plant in Japan, adding 100,000 tires to the unit's annual production capacity.