French tyre company Michelin is proactively evaluating the possibility to produce passenger vehicle tyres locally in India, according to the firm’s Chief Executive Officer, Florent Menegaux. The increased production of tyres would give Michelin more chances to scale up their operations in India, which was affected by import restrictions in 2020.
The company is presently selling only premium-range larger size tyres, in limited quantities, especially for performance-oriented models in the country. Last year, regulations prohibited the import of previously unrestricted tyres for motor cars, busses, lorries, and motorcycles, in an effort to boost domestic production. Limited import licences were issued in response, and companies are allowed to import a specific number of tyres.
During an interview with the Press Trust of India, Florent Menegaux mentioned how India is seen as an evolving market that needs investment. He went on to say that the timing on when to invest has to be taken under consideration.
While talking about the timeframe for the project, Menegaux said that it is currently under review. He further remarked that the company sees India as a great developing market, where infrastructure is on the rise. The relevant technologies and products of Michelin are poised to gain in value as the speed of vehicles increases.
Michelin has presence in truck and bus radial tyres in India and runs a facility in the country’s Chennai city, with an installed capacity of over 30,000 tonnes per annum. Additionally, Michelin has a production partner for two-wheeler tyres in the country.
When speaking about the government’s policy change, Menegaux expressed his disappointment, as their company was at the time trying to expand their business in India. He went on to mention that while the regulations put in place made sense in a way, they were not the right move, and then asked the government to prioritize safeguarding the intellectual property rights in the nation.
The Michelin Group currently employs 1.32 lakh people around the world and has invested in various domains in India. They have developed projects in Pune, like a worldwide hub for artificial intelligence, research activities and digital services, and employ 2,300 people in India.
Provisions have been made to achieve 100 percent sustainable materials in their tyres by 2050. To this end, the company has recently showcased two tyres in the market – one for cars, and another for buses. Both products contain 45 and 58 percent sustainable materials respectively.
Sanjay Rai, an Indian-American, was recently named to a top post in an American state education panel.
Michelin is a French manufacturing company based in Clermont-Ferrand, specialized in tyre production for different types of vehicles: cars, bikes, buses and lorries. Since its foundation in 1889, it has grown to become a world leader in tyre manufacturing, with presence in 175 countries and factories in 67 locations. Its tyres are known for their innovative features and superior performance.
Its CEO, Florent Menegaux, is a seasoned leader with many years of experience. Before his appointment as the company’s CEO, he was the Group Vice President Europe and Region Head at Michelin, and is a graduate in business management from ESSEC Business School. His leadership style focuses on customer service, people development and innovation.
