Despite Trump’s pressure, Michelin maintains investment plans in Mexico
Despite Donald Trump’s threats toward automotive industry companies based in Mexico, Michelin Group’s President Jean-Dominique Senard announced that the company will not change their investment plans in our country.
The French tire giant reported that their ongoing project of building a plant in the Mexican state of Guanajuato is still standing.
“The decision to build the factory in Mexico was made years ago” declared Senard.
The Michelin brand, that also owns BFGoodrich, Kleber, Tigar, Riken, Kormoran and Uniroyal (in North America), announced plans to build a plant in central Mexico focused on high-end tires, an investment worth €450 million (US$475 million).
Michelin said the plant, located in Guanajuato, is expected to be ready by the end of 2018, and would produce four to five million tires a year, to address the growing demand in Mexico and to take advantage of “growth opportunities in the dynamic North American market.”
“This factory will be Michelin’s 21st in North America, and it reflects Michelin’s commitment to producing its tires as close as possible to the markets in which they are sold,” added the company’s President.
Meanwhile, General Motors previously announced that there isn’t any change regarding their plans with Mexico.
However, Ford Motor Company has already canceled a multi-million dollar investment in San Luis Potosi, and Chrysler discusses the possibility of leaving the country if Trump imposes high tariffs.