Yokohama Rubber Co., Ltd., disclosed the commencement of construction for its new passenger car tire plant in Mexico through ceremony held on April 15. The event witnessed the presence of various local government officials and community representatives, including Coahuila Governor Manolo Jiménez Salinas and Saltillo Mayor Jose Maria Fraustro Siller.
Notable attendees from Yokohama Rubber included Chairman & CEO, Member of the Board and Senior Managing Officer & Co-COO, Chairman and CEO of Yokohama Corporation of North America (YCNA), and President and CEO of Yokohama Tire Corporation (YTC).
During the ceremony, Yamaishi and Barna conveyed their appreciation for the forthcoming efforts in constructing the plant, emphasizing its significance in localizing Yokohama Rubber's operations within the North American market. The new facility is assured to augment the Company's tire production capacity in the region, aligning with anticipated future demand by facilitating local production.
Set to boast an annual production capacity of 5 million tires, construction is slated to commence in the second quarter of 2024, with production expected to commence in the first quarter of 2027. Future considerations for expanding the plant's capacity are also on the agenda.
Within Yokohama Rubber's new three-year (2024–2026) medium-term management plan, Yokohama Transformation 2026 (YX2026), the consumer tire strategy aims at optimizing the sales ratios of high-value-added tires. This includes the amplification of sales for YOKOHAMA's global flagship ADVAN brand, the GEOLANDAR brand catering to SUVs and pickup trucks, winter tires, and those measuring 18 inches and above. The plan further underscores the continuation of "Product and Regional Strategies," aimed at fortifying the development, supply, and sales of tires tailored to specific trends in respective regional markets.