Title:
Michelin Green Mobility
Agreement Value:
$44,300,000.00
Agreement Date:
Mar 10, 2025 - Jan 31, 2033
Description:
Michelin’s project objective is to upgrade its three existing facilities in Nova Scotia to commercialize and manufacture next-generation tires for the battery electric vehicle (BEV) passenger and light truck market and for the commercial truck market.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
This investment will improve Michelin's ability to supply advanced EV tires, ensuring the company's long-term presence in Canada. It will support innovation in tire technology, increasing energy efficiency and promoting the adoption of EVs. Additionally, it will contribute to Canada's climate goals by reducing greenhouse gas emissions and strengthening the country's role in the global EV tire supply chain.
Location:
Laval, Quebec, CA H7T2P6
Reference Number:
033-2024-2025-Q4-819799
Agreement Type:
Other transfer payment
Report Type:
Grants and Contributions
Recipient Business Number:
138411798
Recipient Type:
For-profit organization
Additional Information:
This is a partially unconditionally repayable contribution.
Recipient's Operating Name:
Michelin North America (Canada) Inc.
Recipient's Legal Name:
Michelin North America (Canada) Inc.
Federal Riding Name:
Vimy
Federal Riding Number:
24078
Program:
SIF Stream2- Growth
Program Purpose:
-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.