Michelin, a world's leading tire manufacturer, has announced that it will produce 16,000 tonne of truck and bus tyres from its Indian facility this year, registering a year-on-year growth of 45 per cent, Business Standard reported.
As per Business Standard report, the company, which has committed an investment of Rs 4,000 crore in the facility, has room enough to expand the capacity.
The company on Monday launched its first India-specific tubeless tyre range for M&HCV segment, under the name Michelin X Multi, from the facility near Chennai, Business Standard reported.
Speaking on the occasion, Nour Bouhassoun, chairman and president, Africa, India and Middle East of Michelin AIM FZE said, "By the end of this year the production from this facility will be 16,000 tonne. Last year the production was around 11,000 tonne. We are investing every year and the production will be growing every year."
Michelin came to India almost a decade ago and through a rapidly expanding distribution network, has established itself as a leading international tyre maker in the country.