Toyo Tire Corporation and its Toyo Tire Serbia LLC Belgrade manufacturing subsidiary broke ground at the site of Toyo’s new tyre plant in Indjija City, the Republic of Serbia, on 15 December 2020. Toyo Tire’s eighth tyre manufacturing base is due to start tyre manufacturing operations in April 2022, with a capacity of 5 million passenger car tyres per annum by the summer of 2023.