Growth fuelled by innovation
Michelin is investing in two growth areas : innovation in industrial processes and usages. These investments support the Group’s ambition to become a leader in mobility.
Those two announcements regarding high growth potential markets confirm developments upstream and downstream its tire industry core business. The former is the joint-venture dedicated to "metal additive manufacturing", FIVES MICHELIN ADDITIVE SOLUTIONS; the latter is the investment in the Chinese ride-sharing start-up, Luli Information Technology.
Upstream, Michelin leverages its expertise in innovative industrial processes along with Fives, global leader in the design and supply of high added value machines and production lines. This technology now makes it possible for Michelin to develop and market truck and car tires with exceptional performances. The joint-venture FIVES MICHELIN ADDITIVE SOLUTIONS aims at becoming an additive manufacturing leading provider for automobile, aerospace, healthcare etc. industrials.
Downstream, Michelin is investing in the sharing economy to strenghen a challenger in the Chinese ride-sharing market. Becoming a shareholder of Luli Information Technology brings the start-up credibility as a sustainable service provider. This investment is also an opportunity for Michelin to promote its products and services in China.
This growth strategy is guided by a unique philosophy ie performance and responsibility combined in the long run to become a major mobility company.