PARIS — Group Michelin is aiming to improve the performance of its products by at least 10 percent by 2020 compared with the 2010 baseline, the French tire maker disclosed during an investors' presentation in Paris June 7.
Michelin said it had managed to improve the performance of its products by 7.6 percent at year-end 2017 and is on track to achieve the 10-percent target.
Among the goals the company has set along these lines, it aims to save nearly 800 million gallons of fuel on the life of tires, reducing CO2 emissions by more than 8 million metric tons vs. the 2010 baseline.
That target too, it said, is on track as the company has improved the rolling resistance of light vehicle tires and truck tries.
Additionally, the company is planning to develop circular economy further by producing tires with 30-percent renewable material content or recycled tires.
"At the end of 2017, the average rate of renewable or recycled materials in Michelin tires were estimated at 29 percent, in line with the trajectory to be at 30 percent by 2020," the company noted.
Additionally, Michelin said it aimed to halve the environmental footprint — known as Michelin environmental footprint (MEF) — of its production sites by 2020.