BRIDGEWATER, Nova Scotia — Michelin Group is planning to invest $225 million (C$300 million) in its Canadian operations to accelerate sustainable mobility initiatives and improve the company's environmental footprint.
The investment will cover the installation of new technologies and equipment at Michelin's three tire plants in Nova Scotia in a bid to respond to market evolution, including converting production to tires for the growing electric vehicle (EV) segment and larger rim-size tires for passenger and light truck vehicles, as well as truck tires with improved fuel efficiency.
Michelin also plans to electrify key parts of the manufacturing process to reduce carbon emissions.
"Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way," Michelin North America Inc. President and CEO Alexis Garcin said.
"With these investments, we will … continue to add capacity in the most strategic segments of the tire market to support the transition to electric vehicles and to energy-efficient freight transportation, while further reducing the environmental footprint of our products and our plants."