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The project marks the next phase of Toyo Tire's expansion into Serbia, after it decided to move its European research activities from Germany.
Japanese tire corporation Toyo has begun construction of a 29 million euro research and development center in Serbia, in the city of Indijas, President Aleksandar Vučić announced on March 19.
The project marks the next phase of Toyo Tire's expansion in Serbia, after it decided to relocate its European research activities from Germany. The facility is expected to begin operations in 2027.
"In 2019, Toyo Tire came to Serbia, built its first European production facility, and today it is becoming a research and development center for the entire continent," Vučić said in a statement posted on Instagram.
Toyo Tire's factory in Serbia, set to open in 2022, will produce around five million tires a year. The company has invested nearly 383 million euros in Serbia and employs more than 600 people.
Serbia is also being considered as a possible location for a new truck and airplane tire project, according to a statement issued by the president's press office.
Serbia attracts high levels of export-oriented investment, particularly in automobile manufacturing.
Total exports in 2025 reached 33.1 billion euros, with the automotive sector accounting for about 12% of the total, according to data from the national statistics office, RZS. Other Japanese firms, notably JFE Shoji, are also investing in Serbia.
Toyo Tire's expansion comes after a state visit by President Vučić to Tokyo in September 2025, when he presented Serbia as a regional base for automobile production. / Kapitali
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