Internet of Things (IoT) would be fully installed at the new Toyo plant in Serbia, which would operate as a sophisticated smart factory.
Toyo Tire to Build First European Plant
Toyo Tire Corporation announced that it would build a factory in Indijia City, Serbia and was investing 390 million euro in the first phase of the project.
The company planned to begin construction of the production plant in Serbia in May 2020, and initiate tyre manufacturing operations in January 2022, with capacity projected to reach five million tyres per year by the summer of 2023.
“Internet of Things (IoT) would be fully installed at this plant, which would operate as a sophisticated smart factory. Toyo would take on the challenge for a new level of competitive manufacturing, while achieving high quality at low cost and plan to supply differentiated and highly added value products for luxury passenger vehicles and light trucks within and outside the European market,” Toyo Tires says.
Toyo Tire is supplying tyres for the European and Russian markets from factories in Japan and Malaysia. As of 2022, the new manufacturing base in Serbia would take on a key role in this regard.
In September 2019, Toyo Tire would establish a Serbian subsidiary, based in Belgrade, with a capital of 160 million euro, which would be active in the manufacturing and sales of radial tyres for passenger vehicles and light trucks, the Japanese investor said.
Toyo Tire says it intends to continuously strengthen its business platform by producing highly added value products with timely supply to the global market. It is in such a connection that Toyo Tire announced within the ‘2017 mid-term plan’ to consider a new manufacturing platform with a focus on sustainable growth in 2020 and onwards.