Michelin to Launch Locally-Produced Passenger Vehicle Tyres in India This Year

French tyre giant Michelin is set to roll out locally-produced passenger vehicle (PV) tyres from its Chennai facility later this year. The company also plans to progressively expand its product portfolio to cater to various segments, a senior executive revealed.

The Clermont-Ferrand-based company, which operates 86 tyre production sites worldwide, is investing Rs 564 crore to establish manufacturing capacity for PV tyres in Chennai. This move is part of Michelin’s broader strategy to strengthen its foothold in the Indian market.

“We want to bring a product that the Indian market needs. That’s our first commitment,” said Pierre-Louis Dubourdeau, Member of the Group Executive Committee and Executive VP Manufacturing at Michelin, during an interaction with PTI.

Michelin’s decision to manufacture PV tyres locally aligns with the growing demand for high-performance and durable tyres in India. The company aims to enhance its reach by offering a diverse range of products tailored to Indian road conditions and customer preferences.

The investment in the Chennai facility underscores Michelin’s confidence in India’s automotive industry and its commitment to localization. By producing tyres domestically, the company is also expected to improve supply chain efficiencies and reduce dependency on imports.

Michelin has been actively expanding its presence in India, focusing on both the premium and mass-market segments. The upcoming production launch in Chennai will further bolster its capabilities and competitiveness in the region.

Industry experts believe that the move will not only benefit Indian consumers but also contribute to the country’s manufacturing sector by generating employment opportunities and fostering technological advancements in tyre production.

With its latest initiative, Michelin is poised to reinforce its position as a key player in India’s tyre industry while offering locally-produced, high-quality products that cater to the evolving needs of the market.