On April 15, a groundbreaking ceremony was held at the Yokohama Rubber Mexico Plant in Japan.
According to reports, the investment in the factory is as high as 380 million US dollars (about 2.75 billion yuan).
The plant covers a total area of about 610,000 square meters and is expected to start production in 2027.
The project has a planned annual production capacity of 5 million tires, mainly producing passenger car tires and light truck tires.
Yokohama Rubber said that the investment will help its tire products meet the needs of local customers.
At the same time, it will be able to further improve its production and sales capabilities in the North American market.
Subsequently, they will consider expanding the second phase of the project according to the market situation.
It is reported that North America is one of the important markets for Yokohama rubber.
Its tire sales account for 26% of the company's total sales.
Tire World Network learned that the Mexican tire market is growing at a compound annual growth rate of 6.1%.
The world's top five tire companies all have local factories.
Recently, two Chinese tire giants have also chosen to invest in Mexico.
Among them, Sailun Group is located in León, Guanajuato, and Zhongce Rubber is planned to be built in Saltillo, Coahuila.
At present, these two major tire bases are being promoted in an orderly manner.