Bullish on China biz, Michelin to expand production capacity

Move follows eagerness of automakers in seeking new tech, sustainability

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.

The move has been prompted by the enthusiasm shown by Chinese automakers and technology companies in adopting new technologies, which has opened up numerous opportunities and resulted in a significant increase in the use of electric vehicles, new energy sources and new materials.

In addition to expanding its manufacturing base in Shanghai, Michelin will increase passenger car tire capacity at its factory in Shenyang, Liaoning province, this year to meet soaring market demand.