Prime Minister Miloš Vučević announced recently that Toyo Tires, the Japanese tire manufacturing giant, has set its sights on Serbia as the primary hub for its European production and sales operations. Vučević confirmed that the Serbian government, alongside all relevant institutions, will extend their full support to facilitate the company’s growth in the country.
During his visit to the Toyo Tires factory in Inđija, alongside Minister of Economy Adrijana Mesarović, the Prime Minister highlighted the significance of the company’s operations for both the local economy and the wider Serbian industrial sector. He praised the ongoing expansion, noting that the Inđija facility is becoming a central point for Toyo Tires’ European activities.
Vučević expressed optimism that the company might soon consider establishing a research and development center in Serbia to complement its growing production operations. Currently, the plant employs about 700 people, with plans for further workforce increases, which the Prime Minister emphasized as an important contribution to the local economy and municipal revenue.
The Prime Minister also lauded the company’s commitment to investing in cutting-edge, digitalized equipment, calling the Inđija factory a prime example of a modern, 21st-century manufacturing site. He stressed that the factory’s high-tech infrastructure not only benefits the Serbian economy but also aligns with global trends in industrial advancement.
In addition, Vučević pointed out that Toyo Tires’ focus on significant capital investments in Serbia is a key factor in the broader strategy to improve economic relations between Serbia and Japan. He described the presence of Toyo Tires as a strong signal to other foreign companies looking to invest in the region.
Toyo Tires Serbia, which commenced production in 2022, currently manufactures around five million tires annually. In a further step towards consolidating its position in Europe, the company will establish Toyo Tire Sales and Marketing Europe d.o.o. in Inđija by the end of January 2025. This new entity will serve as the European sales and marketing hub, taking over management functions from the company’s existing headquarters in Germany by the close of 2025. This reorganization is part of Toyo Tires’ broader global expansion plans.
As part of its continued development, the company also intends to open a new research and development center in Serbia. This facility will enhance Toyo Tires’ capabilities in production, sales, and technology across the European market.