The Michelin Group announced Nov. 21 that it will invest nearly $1.5 billion (U.S.) to establish a factory in Shenyang, China, that will produce tires for passenger cars and light trucks. The project is valued at more than three times Michelin’s total previous investments in China, $450 million, according to China Business News.
The new factory will make 10 million tires for passenger cars and light trucks, 1.8 million tires for trucks and coaches and 295,000 recapped tires for trucks and coaches. Special techniques will be used at the factory to produce high-performance, environmentally friendly tires featuring reduced weight with the same load and speed performance as regular tires.
The installation of the production lines and equipment for the entire factory will be completed within four years, and a total of 1,500 experts will arrive in Shenyang to participate in the installation and debugging, China Business News said. In addition, Michelin will send 500 employees to receive training in North America and Europe and train a total of 3,500 employees in China.
