French tyre maker, Michelin, has opened a 9.4 billion yuan plant.
Michelin's latest 'active wheel' technology Image: Michelin |
Michelin Group opened the manufacturing plant in the northeast city of Shenyang, Liaoning Province, with a production capacity of more than 12 million tyres a year.
The iconic French brand has invested 9.4bn yuan ($1.5bn) in the project, making it Michelin’s biggest plant worldwide.
As well as producing the company’s trademark high-performance tyres for cars and light trucks, Michelin also hopes to capitalise on the nation’s growing commercial truck and bus market by building a series of radial tyres.
Jean-Dominique Senard, President of Michelin Group, told China Daily that China played a key role in his company’s goal to double emerging market sales by 2020, with sales in China alone targeted to double or triple in the coming years. Senard also announced that Michelin is planning to open another facility in China, although did not give further details.