Michelin India President – Africa, India and Middle East Gaganjot Singh, Managing Director-India Shantanu Deshpande and Executive Director Florent Chaussade announce expansion plans.
Michelin India announced its foray into the passenger car radial tyres segment with the setting up of a ₹564 crore brownfield project in Threvoykandigai near Chennai.
“The foundation stone laying ceremony will take place on September 21 in the existing premises that already has some land and buildings,” said its President – Africa, India and Middle East Gaganjot Singh during an interaction.
Rising disposal income, growing quality infrastructure and premiumisation of car parc are the main reason for the tyre major to further invest in India as it offered a great opportunity, he said.
“The expansion aligns with Michelin in Motion 2030 sustainable growth and manufacturing strategy of producing closer to the market, where we make our sales, to improve product availability and customer service,” he said.
Michelin India Executive Director Florent Chaussade said that they are planning to hire 200 people. The first batch of passenger car tyres production will be rolled out by Q3 of 2025.
Asked about the production details, he said that the plant will be designed with scalability in mind, enabling flexibility for future expansions or modifications to meet evolving business needs and market demands.
The French tyre major, which has been in operation since 2014, annually produces 49,000 tonnes of truck and bus radial tyres for the domestic and export markets. Besides, it caters to the needs of Indian defence mobility OEMs and replacement market. Two wheeler tyres are produced by a partner.
“The new plant will have the Michelin technology, automation and process of 5.0 representing the most modern Michelin facilities in the world. The factory will truly reflect Michelin’s 3P strategy of people, profit and planet,” said MD-India Shantanu Deshpande.
“Till date, we have invested over ₹2,840 crore in the Chennai plant. The TBR tyres are exported to Europe, Middle East, Africa and North American countries,” he said.
Published – September 20, 2024 06:38 pm IST
