More bad news for European tire production has arrived in the form of Michelin's decision to close its Cholet and Vannes plants in France. this will happen by the beginning of 2026 at the latest.
The company announced this planned measure to 1,254 employees at the two facilities this morning. To these workers who will lose their jobs should be added about 1,500 more employees of the brand's factories in Germany, where the activity will be terminated by the end of 2025.
Thus, in the last year alone, Michelin announced the layoffs of around 2,750 workers in Europe.
Closing became "inevitable" due to stiff competition from Asian tire manufacturers, as well as "deteriorating competitiveness of Europe", especially due to inflation and rising energy prices, the French group said in a statement.