Building new capacity at the Shanghai plant CAPITALIZING ON OUR FUNDAMENTALS Tires TIRES In the 2023 DriverReviews Customer Choice Awards, Michelin took the honors in several categories, based on more than 350,000 customer reviews by motorists who had driven more than 300 million kilometers. In particular, the brand was crowned “winner” in the “Best Tyre for High Performance Cars” category with the MICHELIN Pilot Sport 4S, and in the “Best All Season Tyre” category with the MICHELIN CrossClimate 2. Working with tire dealers and manufacturers, DriverReviews collects thousands of verified reviews and opinions by motorists driving all types of vehicles concerning their choice of tires. These verified reviews enable tire manufacturers like Michelin to enhance their trust capital based on tire user experience and eventually to increase their sales. Automotive In November 2023, Michelin announced a significant expansion of production capacity at its car tire plant in Shanghai, China. Scheduled for completion by year-end 2026, the project’s first phase will increase annual capacity for high-performance sedan tires by one million units, to 9.5 million tires a year. The factory of the future, which covers an area of 70,000 sq.m, will be equipped with the latest technologies to support flexibility, artificial intelligence and decarbonization. Built in 2001, the Shanghai plant is one of Michelin’s two production facilities in China, the other being in Shenyang, Liaoning province. In a market driven by growing mobility needs, the rapid transition to EVs and increasingly upmarket demand, Michelin is strengthening its technological leadership and its all-sustainable approach in serving its customers. After shoeing the new all‑electric Porsche 718 Cayman GT4 ePerformance in 2022 with tires containing 53% sustainable materials, Michelin unveiled a racing tire made from 63% renewable or recycled materials at the 24 Hours of Le Mans Centenary race in June 2023. The new, ultra-high-performance tire demonstrates Michelin’s ability to bring breakthrough technologies to both the track and the street. Its component materials include natural rubber, recycled carbon black from end-of-life tires, recycled steel from scrap metal, orange and lemon peel, fir resin and sunflower oil. The carbon black and recycled steel are supplied by Michelin partners Enviro and GSW. Racing tires containing 63% renewable or recycled materials Motorists laud the MICHELIN brand _18 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN Tires
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