Toyo Serbia started tyre production in July, US exports prioritised

The next phase will see Toyo Serbia ramp up capacity to 5 million “cost-competitive” car tyres a year (Photo: Toyo)

Toyo Tire’s Serbia car tyre production plant became operational on 27 July 2022. The news is in line with Europe executives’ mid-July comments, which suggested the factory would start making tyres by the end of July. The latest news is that shipments are now beginning to move out and that the company is planning to “preferentially supply the US until the end of this year [2022]” in order to “meet robust demand there”.

The next phase will see Toyo Serbia ramp up capacity to 5 million “cost-competitive” car tyres a year. The goal is to reach the 5 million-unit-a-year mark by September 2023.

Of these, 2 million units a year plus are destined for fitment to passenger cars and SUVs in the USA. And 3 million units a year will go to the European tyre markets. The strategy for this capacity is to: “accelerate the shift toward local production for local consumption in Europe, Japan and Asia” and to “bolster sustainable profit”.