Toyo Tires evaluating construction of new factory

Tokyo – Toyo Tire Corp. is currently evaluating the possibility of establishing of at least one new tire production base in the near future, the group has confirmed to ERJ.

In a 28 Oct statement, the Japanese tire manufacturer said it was examining potential investment in a capacity expansion programme to support its growth strategy.

Toyo, however, emphasised that no formal decision had been made whether the scheme would involve – as per media reports – the building of two new production facilities.

“Our current production capacity is operating at nearly full utilisation. Considering our growth strategy, we recognise the need for capacity expansion as a medium-term priority,” said the Toyo statement.

If the plan is approved, the group expects to unveil further details about the investment around February 2026, when it will present its next medium-term strategic plan (2026-2030).

While the specific timeline has yet to be determined, Toyo said it is considering the possibility of initiating construction “early in the next medium-term plan period.”

Toyo did not provide a cost estimate for the expansion programme, but its previous investments in greenfield factories in Serbia and Malaysia were each put at around Yen50 billion (€280 million).

The group currently operates tire production facilities in Japan, China, Malaysia, Serbia and the US.