Michelin Increasing Capacity in China

Michelin reports it is increasing its passenger car tyre capacity in China by 50 per cent, to 15 million units, and doubling truck tyre capacity to 4 million. This significant increase in capacity will mostly serve the local market. The tyremaker states it aims to grab an 11 per cent share of the passenger car tyre market in China (8 per cent in the OE segment, 15 per cent in for replacement market tyres) and 9 per cent of the truck tyre market. Turnover, which at present is 1 billion euros or 6 per cent of group sales, is expected to almost triple in the next five years.