Bullish on China biz, Michelin to expand production capacity

A Michelin employee addresses visitor queries during the sixth China International Import Expo in Shanghai in November. CHINA DAILY Michelin Group will expand production capacity at its units in China to capitalize on potential growth opportunities, senior executives said, as the French tire and mobility company rides on the country's efforts to cultivate new quality productive forces and undergo a green transformation. As China creates more favorable conditions to cultivate new quality productive forces, Matthew Ye, CEO and president of Michelin China and Mongolia, said the key factor behind this is the growth driver related to sustainability. Speaking at a session of the China Development Forum 2024 held in Beijing late last month, Florent Menegaux, CEO of Michelin Group, said that in a challenging global context, the company continues to see opportunities and will always innovate to find new solutions. With its substantial market demand and growth prospects in sectors such as new energy, digital transformation and intelligent manufacturing, along with comprehensive industrial support and integration advantages, China will remain a preferred destination for global investors, said Cui Fan, a professor at the University of International Business and Economics in Beijing.