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“This project is a huge investment and is currently more than three times the amount of Michelin's total investment in the Chinese market. Prior to this, Michelin’s cumulative investment in China was US$450 million,†said Xiayi Fu, President of Michelin China Investment Co., Ltd.
According to Xiayifu, Michelin Shenyang Tire Co., Ltd. was established in 1995 and is the first joint venture company established by the Michelin Group in China. In 2003, it was transformed into a wholly foreign-owned enterprise.
It is understood that in recent years, with the rapid development of China’s auto market, consumers’ demand for tires for passenger cars and passenger cars has increased. Michelin has decided to establish a new factory in the Chemical Industry Park in Shenyang’s equipment manufacturing industry to produce high-performance products. Low rolling resistance green tires. Thanks to the special process, the weight of car and light truck tires produced at the new plant has been reduced, while the product still maintains the same load bearing and speed performance. Weight reduction saves both raw materials and reduces the rolling resistance of the tire, thereby reducing the vehicle's energy consumption. Every 10 million car tires can save about 27 million liters per year, reducing carbon dioxide emissions by about 68 million kilograms. More than 80% of truck and bus tires are high-tech tubeless tires.
According to Xiayifu, Shenyang's new plant project will implement the production line and equipment installation in the same period in 2014. At that time, 1,500 experts will be sent to Shenyang for installation and commissioning. At the same time, it trained Chinese employees, dispatched 500 employees to Europe and North America for training, and trained 350 employees in China.
Michelin Tire laid a groundbreaking ceremony for its new plant in Shenyang on the morning of the 21st in Shenyang Economic and Technological Development Zone. With a total investment of 1.457 billion U.S. dollars, the project will produce 10 million tires for passenger cars and light trucks, 1.8 million for truck and bus tires, and 295,000 retreaded treads for trucks and buses.