Yokohama bets on local production for sustainable biz in India
tyre maker Yokohama is betting on local production in India for a «sustainable and competitive» business model in the country, according to a top company official. Yokohama Rubber company, which is present in the country through a wholly-owned subsidiary, is coming up with a new plant in Visakhapatnam in addition to its existing plant in Bahadurgarh, Haryana.
In an interaction with PTI, Yokohama India Managing Director and CEO Harinder Singh said the company can manufacture tyres of up to 18 inches in diameter within the country and has plans to extend this capability to accommodate tyre sizes of up to 22 inches, to cater to the demand for bigger-sized tyres.
«While we still import certain high-end tyres, like run-flat tyres commonly found on luxury vehicles from our overseas manufacturing bases, our commitment to localising production in India is unwavering,» he added.
Singh said the company supports the government's decision to ban tyre imports into the country.
«Yokohama India supports this decision and recognises the importance of investing in local production.
Our investment in the Vizag plant reflects our commitment to the Make in India initiative and positions the company to capture a larger share of the premium SUV market by offering locally manufactured, high-end tyres,» he said.
Local production also helps in reducing costs, lead times, and dependency on imports, contributing to a more sustainable and competitive business model, he added.
The move towards faster and more economical localisation, combined with the capability to manufacture tyres up to 22 inches, positions the company to better serve the growing market demand for SUVs, MPVs, and premium vehicles in the country, Singh said.
In 2020, the
