Yokohama will set up subsidiary in India

Oct. 5, 2006

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.