Michelin North America Inc. plans to invest $300 million CAD (about $220 million USD) in equipment and technology into its three Nova Scotia production facilities.
The tiremaker says the investment will improve its environmental footprint and help it respond to the demands of three key areas:
- the growing segment of electric vehicles,
- tires for larger wheels in passenger and light truck fitments, and
- increased fuel efficiency for commercial trucks.
Additionally, Michelin says it will electrify "key parts of the manufacturing process," which will result in fewer carbon emissions at the plants.
"Michelin is committed to developing the mobility of goods and people and doing so in a cleaner and more sustainable way," says Alexis Garcin, president and CEO 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."
Canadian Prime Minister Justin Trudeau says, "Companies understand the excellence of Canada's workers and auto sector – and today's announcement is a testament to that. Here in Nova Scotia, we are once again seeing that when we invest in our workers, we build communities and an economy that works for everyone, while leaving a stronger, healthier future for our kids."
The improvements will be done according to a multi-year plan, and Michelin says an important part of the plan is the $140 million CAD expansion of the Bridgewater plant, which will also include the addition of 70 new employees.
"We're excited to continue to enhance and grow our operations in Canada," says Andrew Mutch, president of Michelin North America (Canada) Inc. "We have a wonderful history of manufacturing tires here for more than 50 years, and I'm thrilled we can strengthen the competitiveness of our factories for our current and future workforce."
Michelin notes in 2020, it announced a $175 million USD investment in its South Carolina production facilities.
