New Delhi, May 3 (UNI) Michelin, the world's leading innovator in tyre technology, today announced that the company has plans to set up its manufacturing facility in India but no time-frame has been set and the quantum of investment will be market driven.
Michelin India CEO Herve Dub disclosed this at a press conference here while launching company's new tyre in India, Michelin Energy XM1, designed for the midsize car segment aimed at low fuel consumption.
The tyres are designed to provide drivers with a safer and comfortable motoring experience than any other tyre in the class whilst being longer lasting and economise on fuel.
The tyre was specially tested in Coimbatore last month keeping in view the Indian road and all weather conditions.
''For passenger vehicles, the Energy XM1 range of tyres have been developed using the Green 'X' silica based compound, which will not only reduce the rolling resistance and fuel consumption but will also replace Carbon Black, which is a fossil fuel derivative,'' said Mr Dub.
Mr Dub further said that these ranges of tyres not only offer potential fuel savings but also have much improved wet grip and dry handling capabilities, thereby providing extra margin of safety to the consumer.
The price difference from other available tyres will be about 5-10 per cent and fuel saving also of almost the same level.
The tyres match for vehicles including Maruti: Swift, Esteem, Baleno; Ford: Ikon Fiestal; Honda City: Hyundai: Getz, Accent; Opel: Astra, Sail, Corsa; Chevrolet: Optra, Indigo; Toyota: Qualis; Mitsubishi Lancer.
Michelin came to India in 1999 to market its range of radial, bus and truck tyres in this country. These tyres produced for the Indian market contain the best Michelin technology and have been proven in India to last longer and save on operating costs. The tyres are supported by world-class service consistent with Michelin's worldwide quality standard.
Michelin has made available a range of Truck and Bus radial tyres that are suitable for the most common road conditions found in India.
Michelin tyres, founded 110 years ago in Clermont-Ferrand, France, are sold and distributed in more than 170 countries and the Company has 71 manufacturing locations worldwide producing more than 197 million tyres annually and is supported by technology and testing centres in Europe, North america and Asia.
In 2005, Michelin Groups consolidated sales revenue was 15.6 billion Euros with a global market share of about 20 per cent.
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