Fri Sep 20 14:16:05 UTC 2024: ## Michelin Invests ₹564 Crore in India, Expanding Passenger Car Tyre Production

**Chennai, India:** Global tyre giant Michelin has announced a ₹564 crore investment to expand its manufacturing footprint in India, establishing a new passenger car radial (PCR) tyre facility at its existing Chennai site. This marks the company’s third phase of investment in the country, driven by the surging demand for premium tyres, especially with the growing popularity of SUVs.

The new facility will create 200 additional jobs, adding to Michelin’s existing workforce of 2,800 in India. The company’s Chennai factory, operational since 2014, currently produces truck and bus radial (TBR) tyres for both domestic and international markets.

This latest investment reflects Michelin’s commitment to its “local for local” strategy, aimed at serving Indian consumers and reducing environmental impact. The company sees significant growth potential in India’s premium car market, which is expected to double in the next decade.

“We strongly support the government’s Make in India initiative,” said Shantanu Deshpande, Managing Director of Michelin India. “Our tyres already play a key role in helping customers save fuel—our truck and bus tyres provide up to 10-15 per cent fuel savings. Now, we aim to extend this same level of efficiency to our passenger car tyres.”

The new facility, expected to be operational by Q3 2025, will produce premium PCR tyres for the Indian market, with sizes reaching up to 21 inches. Michelin plans to focus on the replacement market initially, while exploring opportunities with Original Equipment Manufacturers (OEMs).

With this latest investment, Michelin’s total investment in its Chennai facility now stands at ₹3,404 crore.

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