by Gilles Guillaume
PARIS (Rentiers) – Michelin is counting on improving the energy performance of its tires and on the development of new software and services to support the rise of the electric car, reflecting its strategy of diversification beyond its historic business. on which he took stock on Monday.
“By 2030, we will improve the energy efficiency of our products by an additional 10% compared to 2020”, said Eric Vinesse, director of Research & Development for the Clermont group during a digital presentation.
Michelin will achieve this by working on the materials, weight and design of the tires, the subject of more than 300 patents.
“Reducing rolling resistance limits fuel consumption and CO2 emissions on internal combustion vehicles, but also has a big advantage for electric vehicles with a direct impact on battery life,” he added. .
The group, which wants to achieve between 20 and 30% of its turnover outside tires by 2030, is also developing its connected fleet and data management activity. This offers a range prediction algorithm, which is particularly strategic for preventing an electric car from running out of fuel.
Michelin’s key word is to multiply growth drivers to reduce its dependence on automotive cycles and certain geographic markets, in terms of sales or supplies. It also seeks to depend less on China for the supply of industrial equipment.
“We are now faced with a new reality, the fragmentation of the world”, underlined Florent Menegaux, president of Michelin.
Backed by its premium position in tires, the group still intends to cultivate its difference in its core business.
But it also intends to develop in services, new high-performance materials – belts for industry, biocompatible polymers for health – or hydrogen, either through organic growth or via “dynamic mergers and acquisitions activity”. , particularly in Western Europe and North America.
Michelin, which will publish its new medium-term objectives for 2026 next year, said it was on track to achieve the 2023 objectives set out at its previous investor day in 2021, namely a turnover of 24, 3 billion euros.
The operating profit target for the sectors was set at more than 3.2 billion when the latest annual results were published in February.
(Gilles Guillaume, edited by Tangi Salaün)
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