Japan based tyre manufacturer Yokohama on Monday announced an investment of Rs 300 crore towards setting up its first production facility in the country which would come up at Bahadurgarh in Haryana.
The company is expected to start the first phase of production by the second half of 2014. Initially though, the Bahadurgarh plant would manufacture 2,000 tyres per day or 7.3 lakh tyres per annum, even as the company claimed that the production can be increased to 8,000 per day.
Commenting on the new plant, Yokohama's Managing Director Takeshi Fujino said in a statement, "As we start our production, we are initially focusing on passenger cars and at a later stage we would start manufacturing Suvs tyres and commercial vehicle." The company is currently supplying tyres to Japanese car manufacturers globally while in India, the company is at a nascent stage.