Michelin is working closely with the Indian government to ensure uninterrupted imports of passenger vehicle tyres until its Chennai-based plant can meet local production demands. CEO Florent Menegaux confirmed the company’s efforts to extend its import license as it ramps up its manufacturing operations in India.
The French tyre manufacturer is investing ₹564 crore to set up a production facility for passenger vehicle tyres in Chennai, with the plant expected to begin operations later this year. The production capacity will gradually increase over the next few years, supporting the company’s expansion in India’s growing tyre market.
Despite the restrictions introduced by the Indian government in 2020, which limited tyre imports to promote domestic manufacturing, Michelin aims to continue supplying the Indian market with premium tyres. Currently, the company imports only a limited number of larger tyres for high-performance models in the country.
Menegaux emphasized Michelin’s strong relationship with the Indian government, stating, “We are in discussions to extend our import license. To accelerate growth, we will need this extension until our Chennai facility is fully operational.”
In addition to passenger vehicle tyres, Michelin’s existing Chennai plant produces radial truck/bus tyres and defencetyres, having invested ₹2,840 crore in its operations there since 2014. The facility caters primarily to the domestic market but also serves select export destinations.
Menegaux further noted that India presents vast growth potential, especially with significant infrastructure improvements in the country. Michelin continues to invest in manufacturing, research, and IT services in India, recognizing the country’s strategic importance in its global operations.
Regarding competition, Menegaux acknowledged the presence of emerging companies, particularly from China, but viewed it positively. “Competition strengthens us,” he remarked, emphasizing that the growing market can accommodate multiple players.
Michelin aims to achieve 100% sustainable materials in its tyres by 2050, and is making strides in innovation, including its involvement in NASA’s ARTEMIS project to design a lunar vehicle capable of operating under extreme conditions. Menegaux believes that developments for space exploration will continue to inspire advancements in their terrestrial tyre technologies.
