Sumitomo Invests $122mln To Expand US Plant Output
- By TT News
- February 10, 2021
Sumitomo Rubber will increase production capacity of its US plant to cater to the growing demand in North America.
The company will make around $122 million investment in the US plant to increase production capacity of passenger cars, light trucks, trucks, buses and motorcycles tyres.
The company will invest $ 96 million to enhance the production of passenger car tyres and light truck tyres, from 6,500 tyres per day to 12,000 tyres per day by 2023, at its Tonawanda, New York, USA. For the truck and bus tyres, it will make an investment of $26 million to heighten the production level from 1,750 tyres per day to 2,300 tyres per day by the end of 2024.
Besides, the capacity increase at its US plant, Sumitomo Rubber, will also update production equipment at its factories in Thailand and Miyazaki (Japan) to shift toward increased tyre production for SUVs and light trucks. With this shift, these two factories will support the company’s push to increase sales of SUV and light truck tyre in North America by producing 4,150 of these tyres per day by the end of 2023 (Thailand) and 1,600 of these tyres per day by the end of 2024 (Miyazaki). The total value of our planned investment in these two factories is 10.8 Billion JPY.
However, Sumitomo Rubber said global demand has declined sharply due to COVID 19 and it does not expect the recovery to the pre-COVID levels until 2022 at the earliest.
“Sumitomo Rubber Group has continued to steadily expand sales of our FALKEN WILDPEAK Series and other high-performance tyres in the North American market under our world-renowned FALKEN brand. Our decision to invest in augmenting production capacity at our USA Factory is not only in response to strong sales, but also reflects our great confidence in the factory, which has made enormous progress in improving productivity over the past few years. By augmenting our local production base for the North American market, we aim to reduce sales lead times so that we may further expand sales in this key market,” said the company.
CEAT Cuts Tyre Prices Across Portfolio Following GST Rate Reduction
- By TT News
- September 12, 2025
Indian tyre maker to pass full benefit of tax cuts to customers from 22 September
CEAT Limited said on Thursday it would reduce prices across its entire tyre range following the Indian government’s decision to cut goods and services tax (GST) rates on tyres, with the full benefit being passed on to customers.
The Mumbai-based tyre manufacturer said new prices would take effect from 22 September, covering commercial, agricultural, passenger vehicle and two-wheeler segments.
India’s 56th GST Council meeting approved significant reductions in tax rates for the tyre industry. GST on new pneumatic tyres was cut to 18% from 28%, whilst tractor tyres and tubes will attract a reduced rate of 5%.
“We thank the Government of India and the GST Council for their timely and progressive decision to rationalise tax rates in the tyre sector,” said Arnab Banerjee, Managing Director & CEO of CEAT Limited.
“The reduced GST slabs will greatly benefit the tyre industry and consumers alike. Not only will it lower the cost of owning and operating a vehicle for customers across various segments, but by making tyres more affordable to replace, it will also make our roads safer.”
Banerjee added the move would “spur formalisation and greater compliance, while also fostering sustainable growth in the sector.”
The GST rate cuts represent a significant policy shift for India’s automotive sector, where high taxation has been a longstanding concern for manufacturers and consumers.
Yokohama Rubber Recognised As ‘DX Certified Business Operator’ By Japan’s METI
- By TT News
- September 12, 2025
The Yokohama Rubber Co., Ltd. has been officially recognised as a DX Certified Business Operator by Japan's Ministry of Economy, Trade and Industry (METI). The designation, which was granted on 1 September 2025, identifies companies that are thoroughly prepared for digital transformation as outlined by the Digital Governance Code.
This certification acknowledges Yokohama Rubber's comprehensive strategy for digital transformation, which is built on three core objectives: advancing business strategy, contributing to sustainability and reinforcing its IT infrastructure. Central to this effort is the company's proprietary AI framework, HAICoLab (Humans and AI ColLaborate), which drives group-wide digital initiatives. These include improving productivity, innovating processes, developing digital talent and building a global cloud-based IT system. The certification confirms that the company's efforts not only meet METI's stringent criteria but also demonstrate appropriate disclosure of information to its stakeholders.
Moving forward, the company said it will continue to leverage data from its entire value chain to adapt to a dynamic business environment. The company aims to enhance customer value, pursue sustainable innovation and transform its corporate culture to strengthen its competitive position and ensure long-term growth.
RPG Group’s TyresNmore Elevates Rakesh Tatikonda To Chief Executive Role
- By TT News
- September 11, 2025
TyresNmore, the automotive aftermarket e-commerce platform owned by RPG Group, has promoted Rakesh Tatikonda to Chief Executive Officer and announced the change with immediate effect.
Tatikonda, who previously oversaw business operations at the Mumbai-based firm, will spearhead the organisation’s expansion and innovation strategy. The appointment advances RPG Group’s ‘Talent First!’ policy, which rewards internal promotions and develops employees.
The new chief executive brings over 15 years of industry experience, having worked across multiple sectors with companies such as telecommunications giant Reliance Jio and IT services provider Infosys. Before joining TyresNmore in 2022, Tatikonda held senior positions at tyre manufacturer CEAT, where he developed expertise in strategy, operations, marketing and digital transformation.
“My aim is to transform automotive aftercare in India by offering seamless, tech-driven, end-to-end mobility solutions delivered with trust, transparency, and convenience right at the customer’s doorstep,” Tatikonda said in a statement.
TyresNmore operates a doorstep service model for tyre and battery replacement across six major Indian cities: Delhi NCR, Mumbai, Bangalore, Hyderabad, Pune, and Chennai. The platform represents RPG Group’s entry into the growing automotive aftermarket sector, which has seen increased digitisation as consumers seek convenient maintenance solutions.
During his tenure in operations, Tatikonda scaled the business and improved profitability while driving digital transformation initiatives. His track record shows he strengthened operational efficiency and enhanced customer experience in the mobility convenience sector.
Vaculug Acquires Scotland's Tyrefair To Drive Northern Expansion
- By TT News
- September 11, 2025
Vaculug, Europe’s largest independent retreader producing high-quality OTR and truck retread tyres for fleets across the UK and Europe, has expanded its UK presence by acquiring Tyrefair in Kinross, Scotland.
This strategic acquisition extends the company's award-winning service further north, ensuring Scottish customers receive the same high-quality OTR and truck retread tyres Vaculug has supplied for 75 years. Since the purchase, the Kinross location has already grown by 25 percent, with an ambitious target to double its business within a year and then double it again.
This move is a key part of Vaculug's 2026 growth strategy, focused on strategic acquisitions that enable better, faster and more sustainable customer service. The acquisition reinforces Vaculug’s long-standing environmental mission, marking a new chapter of sustainable growth with a strengthened Scottish operation.
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