Tyre industry pioneers, Michelin has a long history. Having begun in 1889, Michelin is now the second-largest tyre manufacturer in the world after Bridgestone and larger than both Goodyear and Contineantal.
Michelin has bought UK-based simulation software specialist Canopy Simulations for an undisclosed fee. Since Michelin has been developing dynamic virtual tyre models for the last couple of decades using its Tame Tire software, it appears the plan is to combine Canopy’s “virtual driver” with Tame Tire, taking Michelin’s virtual modelling to the next level.
Olleco is the renewables arm of ABP Food Group, and provides the food and hospitality sectors with a range of services designed to help them to tackle the climate emergency by converting their waste resources into renewable energy. The company employs over 1,000 people, at 19 sites strategically located throughout the UK and Ireland, and has grown to become the UK’s leading supplier of premium cooking oils and fats as well as its largest collector of used cooking oil and food waste. The company has signed a new Effitires contract with Michelin’s Services and Solutions division; the agreement between the two businesses was secured on a joint commitment to sustainability, and a cleaner and greener future for the transport sector.
vGroup has announced that it’s been selected as an exclusive distributor of a selection of Michelin products by the official licensee holder in the UK. As a market leader of finished products for the car, van, and home vGroup International is pleased to expand its portfolio with the Michelin range.
Negotiations between Faurecia, Michelin, and Stellantis have resulted in the signing of a binding agreement covering Stellantis’s acquisition of a 33.3% stake in zero-emission hydrogen mobility firm Symbio. Both Faurecia and Michelin now hold a 33.3% share in Symbio as well. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2023.
Amongst the replies to questions asked prior to the company’s Annual General Meeting on 12 May 2023, Michelin reveals that it gave out up to around €2 million for lobbying activities worldwide in 2022. The company says its lobbying activities are “focused on five priority areas.”
Scandinavian Enviro Systems has raised SEK 300 million (£23.4 million) via a directed share issue and intends to use 75% of this to acquire shares in the previously announced, Michelin-supported joint venture with Antin Infrastructure Partners and to finance the JV’s first plant. The remaining 25% will finance Enviro’s operations for at least 24 months.
Michelin is the first recipient of the Winning Tyre of the FIA European Rally Championship, an initiative introduced to highlight the achievements of the ERC’s four official tyre manufacturers, Hankook, Michelin, MRF and Pirelli. The ERC Winning Tyre accolade goes to the manufacturer whose products equip the victorious crew at each event.
The Polestar 4 is out of the bag, and Polestar says its latest model “transforms the aerodynamics of a coupé and the space of an SUV into a new breed of SUV coupé.” The fully electric vehicle will be available from 2024 in both dual- and single-motor versions, delivering in the dual configuration 400 kW (544 hp), 686 Nm and a preliminary range target of up to 560 kilometres (348 miles) WLTP. Wheels range from 20 to 22 inches in size, depending on the version, with tyres supplied by Pirelli and Michelin.
Michelin has announced the global launch of the X Mine L4** in size 70/70R57, a radial fitment for the Komatsu WE2350/P&H L2350 large wheel loader used in surface mining. The tyre maker promises “improved mobility and productivity” and points out that the X Mine L4** does not require chain fitments on the rear axle.
Michelin reports that its inflatable Wing Sail Mobility (WISAMO) system has been installed on the Compagnie Maritime Nantaise ro-ro container ship MN Pelican. The vessel is testing the inflatable system’s endurance and use on its weekly rotations between Bilbao, Spain and Poole, UK. Feedback generated by these tests will support the giant wing sail’s ongoing development.
Although Ferrari says it has “created a whole new segment” with its Purosangue, you’d be forgiven for thinking it an SUV. Whatever this car may be, it is the first ever four-door, four-seater in Ferrari’s history and it comes with a V12 engine that delivers 725hp, sufficient to propel the Purosangue to 60mph in 3.3 seconds and then onwards to around 193mph. The tyres trusted to take care of handling and stopping are Michelin Pilot Sport 5.
Benefitting from “premium positioning” in Q1 2023 despite “weak markets” around the world, Michelin increased its consolidated sales 7.4% year-on-year, to 6.96 billion euros. Tyre volumes, on the other hand, were down 6.6%. Michelin confirms its 2023 full-year guidance.
Michelin is recalling more than half a million all-season light truck tyres in the USA and Canada as they carry the 3PMSF symbol on the sidewall but do not comply with related local legislation. The voluntary recall affects up to 542,110 aftermarket Michelin Agilis CrossClimate C-Metric tyres produced in France and Poland.
According to comments from Florent Menegaux, we shouldn’t expect to see Michelin in Formula One from 2025. Speaking to US-based automotive site The Drive, the chief executive stated that Michelin isn’t interested in supplying tyres to F1 unless the FIA alters its view on how they should perform. In short, the French firm doesn’t want to make tyres that liven proceedings by falling apart.
The Annual Meeting of Michelin Shareholders will take place on Friday 12 May, and amongst the plethora of information contained within the accompanying Notice of Meeting document, the company shares a few words on activities in Russia. Its message is largely unchanged since the previous update two months ago.
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