Michelin has announced a C$300 million investment into its Canadian operations to further improve its environmental footprint.
This multi-million dollar investment, part of Michelin’s global growth strategy, will include installation of new technologies and equipment. This investment will allow the company to produce more energy efficient tires, including ones used for electric vehicles. The new equipment will be installed in Michelin’s three Nova Scotia production facilities.
In addition, the electrification of key parts of the manufacturing process will reduce carbon emissions at the plants, the company says.
“Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way,” said Alexis Garcin, president and chief executive officer of Michelin North America, Inc. “With these investments, we will do exactly that: 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.”
Apart from its sustainability initiatives, this funding is also focusing on creating new jobs. The multi-year plan also includes a C$140 million expansion of Michelin’s Bridgewater plant, which will add 70 new positions.