Toyo breaks ground on new Serbia tyre pant

Toyo Tire Corporation has broke ground on its new €382 million tyre factory in Serbia’s Indjija.

The factory is set to open in April 2022 and will manufacture tyres for the markets of Europe, the Middle East, North America and Africa, president and CEO of Toyo Tire, Takashi Shimizu said.

Toyo’s eight manufacturing plant will produce around five million passenger car tyres per annum by 2023, it said.