April 16, 2021

Michelin’s plan to grow “beyond tires”



Posted on Apr 8, 2021, 5:34 PMUpdated on Apr 8, 2021, 6:29 PM

Bibendum has great ambitions for the next ten years, but not only in the tire industry. Michelin boss Florent Menegaux, who took the reins of the manufacturer in May 2019, detailed his strategic plan for 2030, called “Michelin in Motion”. During an investor day on Thursday, the manufacturer explained that it was aiming for growth of 5% per year between 2023 and 2030, in particular thanks to new activities, which should represent at this date between 25% and 30% of its turnover. business.

“The tire will continue to grow, but at a lower rate, from 1 to 2% per year,” he explains to “Echos”. “It is a question of placing Michelin in a very strong growth dynamic. We want to expand our business by capitalizing on our basic know-how, namely the manufacture of composite hoses ”, he explains, recalling that during its 130 years of history, Michelin has in the past manufactured planes, trains, cars …

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