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Friday 24 March 2023
Michelin secures funding to upgrade plants, make more EV tires in Nova Scotia
Michelin, one of the largest tire manufacturers in the world, has pledged $300 million to boost the production of EV tires in three Nova Scotia facilities.
In conjunction with Michelin’s announcement, the federal government and province of Nova Scotia promised financial aid to the company. In all, Michelin will receive $44.3 million in federal funding and a provincial tax credit of $61.3 over five years.
Michelin says the combined investments will go towards installing new technology and equipment to make more efficient tires, including tires for electric vehicles, in Michelin’s three Nova Scotia plants located in Bridgewater, Pictous and Waterville.
Read the whole story on electricautonomy.ca