Michelin is unarguably one of the fastest growing tyre manufacturers in the country. Going by what it has in store in terms of future business plans and products for the Indian market, it is inevitable that soon Michelin will become a major force in the Indian tyre industry.
The French tyre company started its operations in India just over a decade ago and today, it sells products in passenger car, truck and bus, two-wheeler and OTR (off the road) segments. The company has a TBR (truck and bus radial) tyre manufacturing facility in Chennai that kick-started operations in July 2013. Recently, it also announced entering a JV with TVS Tyres to manufacture two-wheeler tyres using the Indian manufacturer’s production facility in Madurai.
Globally, Michelin is present in over 170 nations and it has 68 production plants in 18 countries. Also, it goes without mentioning the fact that Michelin is one among the top three tyre manufacturing firms in the world along with Bridgestone and Goodyear.
While Michelin is famous for its tyres across different segments including airplanes, automobiles, bicycles, motorcycles, earthmovers, farm equipment and trucks, etc., the company is mostly known for bringing technological advancements in the tyre industry like no other. For example, the introduction of radial tyre in 1946 was one of the key innovations by Michelin.
Other than its products and technology, Michelin is also known for actively participating in motorsport activities. The manufacturer currently supplies tyres to Formula E Series while 2016 onwards, it will be the sole-supplier for MotoGP. Only a few days ago, Michelin participated for the bid to become a three-year tyre supplier for Formula One starting from 2017-19. Among other motorsport events, Michelin supports Le Mans Series, Dakar Rally, WRC (World Rally Championship), etc.