Yokohama will set up subsidiary in India
Yokohama Rubber Co. Ltd. will establish a subsidiary in New Delhi, India, this January.
The wholly owned subsidiary, Yokohama India, will have a start-up capitalization of 50 million yen.
"Tire demand in India is beginning to surge," say Yokohama officials.
Sales of new passenger cars in India have increased 61% since 2002 to 1.1 million units in 2005. New care sales in India are expected to reach two million by the year 2010.