Michelin

Michelin Overview

Company Headquarters: Clermont-Ferrand, France

Founded: 1889

Workforce: ~114,070

Company Working: Michelin is a global supplier and manufacturer of tires. It operates through 70 production facilities across 171 countries, worldwide. The products developed by the company are sold to commercial OEMs, off-highway vehicle manufacturers, and the aftermarket. It operates through three business segments, which are passenger car and light truck tires & related distribution, truck tires & related distribution, and specialty businesses. Michelin manufactures tires for cars, vans, trucks, buses, farm machinery, earthmovers, mining and handling equipment, tramways, metros, aircraft, motorcycles, scooters, and bicycles. It is highly focused on research and development activities, for which it invested USD 725 million in 2017.

Michelin North America is one of the major subsidiaries of Michelin for the production of green tires. It operates through 19 plants in 16 locations, across the country, and employs 22,000 people. The company offers green tires that provide low rolling resistance and improved fuel efficiency for passenger cars and trucks. Some of the green tires produced by Michelin help save as much as 1 liter of fuel and 2.66 kilograms of CO2 per 100 kilometers, without compromising on tire durability.

Strategy

Michelin is focused on innovations to produce safer, more efficient, and more environmental-friendly tires. It concentrates on developing tires to improve the range of battery-powered EVs. The company is also concentrating on developing eco-friendly production options and have joined forces with Barito Pacific Group in Indonesia, to create eco-friendly natural rubber production practices on an 88,000-hectare plantation. Similarly, it helps deploy hydrogen-powered electric mobility systems to meet the challenge of achieving zero-emission transportation. Michelin is also focusing on its 4R strategy (reduce, reuse, recycle, and renew) to maintain a circular economy at each stage of the tire lifecycle.

Company Snapshot

$26,686.1M

Revenue

114,070

Employees

1889

Founded

Clermont-Ferrand, France

Headquarters

SWOT Analysis

Strengths

Diverse customer base
Increasing investments in research & development
Market penetration in Europe and North America
Increasing investments in research and development
Increasing investment in research & development

Weaknesses

Lack of mergers & acquisitions
Minimal growth in recent years
Lack of mergers and acquisitions
Stagnant growth in recent years
Lack of mergers & acquisition

Opportunities

Development of tires that deliver consistent, safe, and efficient performance, in all driving conditions
Deploying seamless solutions for last kilometer deliveries in urban areas
Development of tires that deliver consistently safe and efficient performance, in all driving conditions
Deploying seamless solutions for last kilometre deliveries in urban areas
Deploying seamless solutions for last-kilometer deliveries in urban areas

Threats

Rapid technological developments render its products obsolete
Increased competition from tire manufacturers in China
increased competition form tire manufacture in China

Key Developments

Date	Approach	Development
February 2016	Product Launch	Michelin launched X Line Energy Z that delivers 20 percent more mileage than leading line-haul steer tires with the ultra-fuel-efficient casing. These features improve the tire’s rolling resistance throughout its lifespan
September 2014	Product Launch	Michelin launched the market’s first ‘A’ rated drive tire and front tire for enhanced rolling resistance and energy efficiency, respectively. These tires were rated according to the EU labeling rules
June 2021	Product Launch	Michelin has developed 2 new pre-mold retreads X Multi T-SA Pre-Mold Retread and X One Line Energy T2 for expanding the manufacturer's portfolio.
February 2020	Product Launch	Michelin launched X Multi D Pre-Mold retread and MICHELIN X Line Energy T Pre-Mold.

Product Offering

Michelin
- MICHELIN ENERGY LX4
- MICHELIN ENERGY MXV4 S8
- MICHELIN ENERGY SAVER
- MICHELIN ENERGY SAVER A/S

Financial Performance

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