Michelin, the French tyre manufacturer, is considering local production of passenger vehicle tyres in India, according to the company’s Chief Executive Officer, Florent Menegaux.
In an interview with PTI, Menegaux stated that the group sees India as a great developing market and is eager to invest in local production of passenger vehicle tyres in the country. The only thing that needs to be worked out is the timing for the same.
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“Now we are reaching the moment where it will make sense to invest in the passenger car capacity (in India),” Menegaux stated.
Currently, the company’s presence in India is limited to the truck and bus radial tires segment, with a production facility in Chennai that can produce over 30,000 tonnes per year. The decision to invest in local production of passenger vehicle tires in India would likely be a strategic move for Michelin to expand its foothold in the Indian market.