It is understood that the Michelin Group plans to invest US$53 million in its Hungarian plant over the next two years to expand its UHP ultra-high performance tire production capacity, doubling its total production capacity.
Unprecedented demand for European truck tires Michelin plans to expand ultra-high performance tyres
Michelin said that after the production expansion, the tire production capacity of the Hungarian plant will increase from the current 3,000/day to 6,900/day and will add 100 new jobs.
This expansion is mainly to meet the needs of the European market for 18-inch tires. The Hungarian factory will continue to produce Michelin brand cars and 4X4 tires. In addition, it will increase the production of anti-piercing tires.
In May 2014, Michelin announced that due to the unstable demand for truck tires in Europe and the factory site was also located in the city, it shut down its truck tire factory in Budapest, Hungary.
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